Fox Run Management L.L.C. purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,242 shares of the company's stock, valued at approximately $1,943,000. L3Harris Technologies accounts for approximately 0.4% of Fox Run Management L.L.C.'s investment portfolio, making the stock its 19th biggest position.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at $398,507,000. Boston Partners lifted its holdings in shares of L3Harris Technologies by 20.2% in the fourth quarter. Boston Partners now owns 1,178,741 shares of the company's stock worth $247,893,000 after acquiring an additional 198,243 shares during the last quarter. National Pension Service boosted its stake in shares of L3Harris Technologies by 42.1% in the 4th quarter. National Pension Service now owns 606,047 shares of the company's stock valued at $127,440,000 after purchasing an additional 179,539 shares in the last quarter. JPMorgan Chase & Co. increased its position in L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock worth $184,245,000 after purchasing an additional 178,407 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in L3Harris Technologies by 132.4% in the 4th quarter. Victory Capital Management Inc. now owns 280,540 shares of the company's stock valued at $58,992,000 after purchasing an additional 159,806 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
LHX has been the topic of a number of research reports. UBS Group boosted their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Morgan Stanley decreased their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a research report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $261.40.
Read Our Latest Stock Analysis on L3Harris Technologies
Insiders Place Their Bets
In related news, insider Ross Niebergall sold 1,373 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,334 shares of company stock worth $1,383,709 over the last quarter. 0.72% of the stock is currently owned by company insiders.
L3Harris Technologies Stock Performance
L3Harris Technologies stock traded up $2.90 during mid-day trading on Monday, reaching $210.88. 861,545 shares of the company's stock were exchanged, compared to its average volume of 921,607. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The business's fifty day simple moving average is $209.80 and its 200 day simple moving average is $226.13. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $39.59 billion, a PE ratio of 26.80, a P/E/G ratio of 2.42 and a beta of 0.74.
L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.
L3Harris Technologies Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders 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 an increase from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.28%. L3Harris Technologies's dividend payout ratio is 60.99%.
L3Harris Technologies Company Profile
(
Free Report)
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.
Featured Stories
Before you consider L3Harris Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and L3Harris Technologies wasn't on the list.
While L3Harris Technologies currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
