Oliver Luxxe Assets LLC Takes $3.95 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Oliver Luxxe Assets LLC bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 18,804 shares of the company's stock, valued at approximately $3,954,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in L3Harris Technologies by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company's stock worth $1,122,630,000 after buying an additional 59,008 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of L3Harris Technologies by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company's stock worth $485,215,000 after purchasing an additional 27,763 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company's stock worth $366,875,000 after purchasing an additional 85,882 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in L3Harris Technologies by 2.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company's stock valued at $334,429,000 after purchasing an additional 31,686 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in L3Harris Technologies by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company's stock valued at $315,611,000 after purchasing an additional 156,453 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,764 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the sale, the insider now owns 8,576 shares of the company's stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LHX. Citigroup raised their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Raymond James downgraded shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday. Bank of America raised L3Harris Technologies from a "neutral" rating to a "buy" rating and upped their price target for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Wolfe Research raised L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Finally, Royal Bank of Canada raised their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a "sector perform" rating in a report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $267.07.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded down $5.80 during trading on Monday, hitting $203.95. 1,369,576 shares of the stock traded hands, compared to its average volume of 1,080,489. The company has a fifty day moving average price of $235.18 and a two-hundred day moving average price of $234.03. L3Harris Technologies, Inc. has a 52-week low of $200.18 and a 52-week high of $265.74. The company has a market cap of $38.68 billion, a price-to-earnings ratio of 32.22, a P/E/G ratio of 1.86 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts' consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business's revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.19 earnings per share. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were given a $1.16 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.28%. L3Harris Technologies's dividend payout ratio (DPR) is presently 73.30%.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.