Headlands Technologies LLC Buys Shares of 22,149 L3Harris Technologies, Inc. (NYSE:LHX)

Headlands Technologies LLC bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,149 shares of the company's stock, valued at approximately $4,657,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after acquiring an additional 82 shares during the period. Millstone Evans Group LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at $27,000. Roxbury Financial LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $30,000. Finally, Union Bancaire Privee UBP SA bought a new position in L3Harris Technologies during the fourth quarter worth $33,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LHX. Sanford C. Bernstein raised shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and cut their price target for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Morgan Stanley lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. cut their price target on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $260.69.

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L3Harris Technologies Stock Down 3.8 %

LHX traded down $7.92 during midday trading on Friday, reaching $202.03. 3,081,641 shares of the company were exchanged, compared to its average volume of 964,244. The company has a market cap of $37.92 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The company's fifty day moving average price is $208.20 and its 200 day moving average price is $224.79. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.38%. L3Harris Technologies's payout ratio is 60.99%.

Insiders Place Their Bets

In related news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares of the company's stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Profile

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.