Disciplined Investors L.L.C. Takes $426,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Disciplined Investors L.L.C. purchased a new position 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 firm purchased 1,989 shares of the company's stock, valued at approximately $426,000.

A number of other hedge funds also recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its position 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 buying an additional 82 shares during the period. Millstone Evans Group LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies during the 4th quarter valued at $27,000. Roxbury Financial LLC acquired a new position in L3Harris Technologies in the 4th quarter worth $30,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Buying and Selling at L3Harris Technologies

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

Remove Ads

L3Harris Technologies Price Performance

Shares of LHX stock traded up $5.54 during mid-day trading on Tuesday, reaching $205.75. The company's stock had a trading volume of 714,797 shares, compared to its average volume of 967,230. The company has a market cap of $38.62 billion, a P/E ratio of 26.15, a PEG ratio of 2.42 and a beta of 0.71. The firm's 50-day moving average is $207.76 and its two-hundred day moving average is $224.55. 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 quick ratio of 0.90 and a current ratio of 1.08.

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, topping analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, research analysts predict 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 paid a $1.20 dividend. 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 dividend on an annualized basis and a yield of 2.33%. L3Harris Technologies's dividend payout ratio (DPR) is presently 60.99%.

Wall Street Analyst Weigh In

LHX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a research note on Thursday, January 2nd. Raymond James lowered L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Susquehanna lowered 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. Morgan Stanley reduced their price target on 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. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a "market perform" rating to an "outperform" rating and cut their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $260.69.

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.