Aster Capital Management DIFC Ltd Buys New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Aster Capital Management DIFC Ltd purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,437 shares of the company's stock, valued at approximately $512,000.

Other hedge funds have also recently added to or reduced their stakes in 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 valued at $25,000 after purchasing an additional 82 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $27,000. Roxbury Financial LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $30,000. Finally, Union Bancaire Privee UBP SA acquired a new position in L3Harris Technologies during the fourth quarter worth $33,000. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Stock Up 3.8 %

LHX traded up $8.16 during trading on Friday, hitting $221.67. The company had a trading volume of 2,245,316 shares, compared to its average volume of 995,870. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company has a market cap of $41.61 billion, a PE ratio of 28.17, a P/E/G ratio of 2.42 and a beta of 0.71. The business has a 50-day moving average of $207.62 and a 200-day moving average of $223.70.

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L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a dividend of $1.20 per share. The ex-dividend date 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 2.17%. L3Harris Technologies's dividend payout ratio (DPR) is 60.99%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LHX shares. Wells Fargo & Company dropped their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday. Morgan Stanley reduced their target price on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Susquehanna cut their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Sanford C. Bernstein upgraded 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 report on Wednesday, January 8th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $256.94.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction that occurred 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 represents a 53.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 30,620 shares of the company's stock, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is 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.