New Age Alpha Advisors LLC Buys Shares of 12,584 L3Harris Technologies, Inc. (NYSE:LHX)

New Age Alpha Advisors LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,584 shares of the company's stock, valued at approximately $2,646,000.

Several other institutional investors have also recently added to or reduced their stakes in LHX. Blair William & Co. IL lifted its position in shares of L3Harris Technologies by 2.0% during the 4th quarter. Blair William & Co. IL now owns 30,753 shares of the company's stock valued at $6,467,000 after acquiring an additional 617 shares during the period. AssuredPartners Investment Advisors LLC bought a new stake in L3Harris Technologies in the fourth quarter valued at $3,308,000. NEOS Investment Management LLC raised its holdings in shares of L3Harris Technologies by 30.6% during the fourth quarter. NEOS Investment Management LLC now owns 10,627 shares of the company's stock valued at $2,235,000 after purchasing an additional 2,487 shares during the period. UniSuper Management Pty Ltd boosted its position in shares of L3Harris Technologies by 29.2% during the 4th quarter. UniSuper Management Pty Ltd now owns 15,907 shares of the company's stock worth $3,345,000 after purchasing an additional 3,597 shares in the last quarter. Finally, Moment Partners LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $513,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial cut their price target on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Susquehanna cut their target price on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Citigroup reduced their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $269.00 to $268.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $260.69.

L3Harris Technologies Stock Performance

Shares of NYSE LHX traded down $1.72 during midday trading on Thursday, reaching $210.18. The company's stock had a trading volume of 272,826 shares, compared to its average volume of 958,439. The stock has a market capitalization of $39.45 billion, a P/E ratio of 26.71, a PEG ratio of 2.42 and a beta of 0.74. 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 firm has a 50 day moving average price of $208.73 and a 200-day moving average price of $225.14. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.28%. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. L3Harris Technologies's dividend payout ratio (DPR) is presently 60.99%.

Insider Buying and Selling

In other news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The stock was 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 owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently 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.