Sagespring Wealth Partners LLC Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Sagespring Wealth Partners LLC bought 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 filing with the SEC. The fund bought 6,141 shares of the company's stock, valued at approximately $1,291,000.

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

Insider Activity at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the company's 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 completion of the transaction, the insider now owns 2,797 shares of the company's stock, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 6th. The shares were 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 in the company, 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. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded down $0.87 during trading hours on Friday, reaching $218.01. 1,411,617 shares of the stock traded hands, compared to its average volume of 1,001,265. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $40.92 billion, a price-to-earnings ratio of 27.70, a P/E/G ratio of 2.42 and a beta of 0.71. The company has a 50 day moving average price of $208.64 and a 200 day moving average price of $223.37. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.20%. L3Harris Technologies's payout ratio is 60.99%.

Analysts Set New Price Targets

LHX has been the subject of several research reports. Barclays cut 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. Morgan Stanley decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Raymond James cut shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Finally, Bank of America decreased their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $256.35.

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.