Nebula Research & Development LLC Invests $1.77 Million in L3Harris Technologies, Inc. (NYSE:LHX)

Nebula Research & Development LLC purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 8,430 shares of the company's stock, valued at approximately $1,773,000.

Other large investors have also added to or reduced their stakes in the company. Hancock Whitney Corp boosted its position in shares of L3Harris Technologies by 1.8% during the 4th quarter. Hancock Whitney Corp now owns 5,343 shares of the company's stock valued at $1,124,000 after acquiring an additional 93 shares during the last quarter. Burling Wealth Partners LLC purchased a new stake in L3Harris Technologies during the fourth quarter valued at $1,593,000. Coppell Advisory Solutions LLC lifted its position in L3Harris Technologies by 3.6% during the fourth quarter. Coppell Advisory Solutions LLC now owns 11,656 shares of the company's stock valued at $2,436,000 after purchasing an additional 407 shares during the last quarter. Dark Forest Capital Management LP grew its stake in shares of L3Harris Technologies by 279.7% in the 4th quarter. Dark Forest Capital Management LP now owns 7,077 shares of the company's stock worth $1,488,000 after buying an additional 5,213 shares in the last quarter. Finally, Harvest Investment Services LLC bought a new position in L3Harris Technologies during the 4th quarter valued at about $251,000. Institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LHX shares. JPMorgan Chase & Co. cut their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Bank of America dropped their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Susquehanna dropped their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays cut their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $256.56.

Insiders Place Their Bets

In other news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company's stock, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies 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 sale, the insider now directly owns 30,620 shares of the company's stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Up 1.3 %

LHX stock traded up $2.78 on Tuesday, hitting $221.54. 1,273,437 shares of the company's stock were exchanged, compared to its average volume of 1,014,139. The firm has a 50 day moving average price of $211.07 and a two-hundred day moving average price of $221.77. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The stock has a market cap of $41.59 billion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. 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 quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the previous year, the firm earned $3.06 earnings per share. The company's revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.17%. L3Harris Technologies's payout ratio is 56.94%.

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.