Enhancing Capital LLC Makes New $850,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Enhancing Capital LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,044 shares of the company's stock, valued at approximately $850,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in L3Harris Technologies by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company's stock worth $1,122,630,000 after acquiring an additional 59,008 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of L3Harris Technologies in the 4th quarter valued at about $398,507,000. Massachusetts Financial Services Co. MA boosted its stake in shares of L3Harris Technologies by 5.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company's stock valued at $366,875,000 after purchasing an additional 85,882 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of L3Harris Technologies by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company's stock valued at $254,461,000 after purchasing an additional 32,979 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of L3Harris Technologies by 20.2% in the 4th quarter. Boston Partners now owns 1,178,741 shares of the company's stock valued at $247,893,000 after purchasing an additional 198,243 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

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Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the firm's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares of the company's stock, valued at approximately $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares of the company's stock, valued at $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,098 shares of company stock valued at $1,760,588 in the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Down 0.8 %

Shares of LHX traded down $1.74 during mid-day trading on Friday, hitting $208.15. 1,931,912 shares of the company's stock were exchanged, compared to its average volume of 921,511. The company has a market cap of $39.07 billion, a PE ratio of 26.45, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a 50-day simple moving average of $209.80 and a 200 day simple moving average of $226.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate 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, research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a dividend of $1.20 per share. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Monday, March 10th. L3Harris Technologies's dividend payout ratio (DPR) is currently 60.99%.

Analysts Set New Price Targets

LHX has been the topic of a number of analyst reports. Barclays cut their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Citigroup cut their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. Raymond James downgraded shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Sanford C. Bernstein upgraded 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. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of 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 given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $261.40.

L3Harris Technologies Company 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.