6,854 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Bought by Potomac Fund Management Inc. ADV

Potomac Fund Management Inc. ADV purchased 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 SEC. The fund purchased 6,854 shares of the company's stock, valued at approximately $1,441,000. L3Harris Technologies accounts for about 1.3% of Potomac Fund Management Inc. ADV's portfolio, making the stock its 18th largest position.

Other large investors have also recently made changes to their positions in the company. Trexquant Investment LP purchased a new position in L3Harris Technologies during the 4th quarter valued at about $21,279,000. Headlands Technologies LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $4,657,000. Geode Capital Management LLC grew its stake in shares of L3Harris Technologies by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock worth $1,004,418,000 after acquiring an additional 53,787 shares in the last quarter. Nemes Rush Group LLC increased its position in shares of L3Harris Technologies by 13.2% during the fourth quarter. Nemes Rush Group LLC now owns 32,392 shares of the company's stock worth $6,811,000 after acquiring an additional 3,785 shares during the period. Finally, Tradewinds LLC. acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at $237,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 transaction, the insider now owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the 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 sale, 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 disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

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L3Harris Technologies Stock Performance

LHX traded down $7.92 during trading on Friday, hitting $202.03. 3,081,641 shares of the stock were exchanged, compared to its average volume of 964,244. The firm has a market capitalization of $37.92 billion, a P/E ratio of 25.67, a PEG ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The stock has a fifty day moving average price of $208.20 and a two-hundred day moving average price of $224.79. 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 (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%. As a group, sell-side 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. Investors of record on Monday, March 10th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.38%. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. L3Harris Technologies's dividend payout ratio (DPR) is currently 60.99%.

Wall Street Analyst Weigh In

LHX has been the topic of several recent research reports. Susquehanna cut their price target 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 cut their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and decreased their price target for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Bank of America dropped their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Finally, Barclays decreased their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $260.69.

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.