Petros Family Wealth LLC Buys Shares of 3,630 L3Harris Technologies, Inc. (NYSE:LHX)

Petros Family Wealth LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,630 shares of the company's stock, valued at approximately $763,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its stake in L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $27,000. Roxbury Financial LLC purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $30,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Analysts Set New Price Targets

LHX has been the topic of a number of recent analyst reports. Jefferies Financial Group reduced their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. reduced their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Susquehanna lowered their price target on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price 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 research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, L3Harris Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $256.94.

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Insider Transactions at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their position. The sale 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 firm's stock in a transaction on 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 owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Down 0.8 %

Shares of LHX traded down $1.81 during mid-day trading on Tuesday, reaching $220.88. 1,261,899 shares of the stock traded hands, compared to its average volume of 998,208. The firm has a market cap of $41.46 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 2.42 and a beta of 0.71. The stock has a fifty day simple moving average of $207.89 and a 200 day simple moving average of $223.55. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. 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 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%. Sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced 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 2.17%. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies's dividend payout ratio is 60.99%.

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.