Horan Capital Advisors LLC. Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Horan Capital Advisors LLC. acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,744 shares of the company's stock, valued at approximately $367,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LHX. Farther Finance Advisors LLC boosted its stake in shares of L3Harris Technologies by 7.3% during the third quarter. Farther Finance Advisors LLC now owns 2,646 shares of the company's stock valued at $629,000 after purchasing an additional 179 shares in the last quarter. Pure Financial Advisors LLC boosted its stake in shares of L3Harris Technologies by 16.9% during the third quarter. Pure Financial Advisors LLC now owns 1,407 shares of the company's stock valued at $335,000 after purchasing an additional 203 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of L3Harris Technologies during the third quarter valued at approximately $35,904,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of L3Harris Technologies by 78.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 34,567 shares of the company's stock valued at $8,222,000 after purchasing an additional 15,191 shares in the last quarter. Finally, Citizens National Bank Trust Department lifted its position in L3Harris Technologies by 7.1% during the third quarter. Citizens National Bank Trust Department now owns 5,683 shares of the company's stock valued at $1,352,000 after acquiring an additional 375 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the sale, the insider now owns 8,576 shares in the company, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 4,901 shares of company stock worth $1,059,757 over the last 90 days. 0.82% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Bank of America decreased their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a research report on Thursday, January 2nd. Royal Bank of Canada reissued a "sector perform" rating and set a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Truist Financial decreased their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Finally, Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $300.00 to $269.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $261.47.

L3Harris Technologies Stock Performance

LHX stock traded down $0.23 during midday trading on Tuesday, hitting $207.47. 2,093,273 shares of the stock traded hands, compared to its average volume of 917,026. The firm has a market cap of $39.07 billion, a P/E ratio of 26.36, a PEG ratio of 2.42 and a beta of 0.76. 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 stock's fifty day simple moving average is $208.82 and its 200-day simple moving average is $227.94. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74.

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

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a $1.20 dividend. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.31%. L3Harris Technologies's dividend payout ratio (DPR) is 58.96%.

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.