1,230 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Bought by Keel Point LLC

Keel Point LLC acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,230 shares of the company’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oak Family Advisors LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at about $211,000. Sentry Investment Management LLC raised its holdings in shares of L3Harris Technologies by 203.2% during the fourth quarter. Sentry Investment Management LLC now owns 3,329 shares of the company’s stock valued at $701,000 after acquiring an additional 2,231 shares during the last quarter. Bison Wealth LLC lifted its position in shares of L3Harris Technologies by 1.9% in the fourth quarter. Bison Wealth LLC now owns 3,138 shares of the company’s stock valued at $661,000 after acquiring an additional 60 shares in the last quarter. Dakota Wealth Management boosted its stake in shares of L3Harris Technologies by 1.1% in the fourth quarter. Dakota Wealth Management now owns 24,696 shares of the company’s stock worth $5,201,000 after acquiring an additional 270 shares during the last quarter. Finally, Cullen Investment Group LTD. acquired a new stake in shares of L3Harris Technologies in the fourth quarter worth approximately $1,490,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 1.4 %

Shares of L3Harris Technologies stock opened at $200.41 on Wednesday. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $218.34. The stock has a 50 day moving average of $210.70 and a 200 day moving average of $199.57. The firm has a market capitalization of $38.10 billion, a price-to-earnings ratio of 31.12, a PEG ratio of 1.89 and a beta of 0.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.04. The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.27 EPS. As a group, research analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $1.16 per share. The ex-dividend date was Thursday, March 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Swanson purchased 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. In the last quarter, insiders sold 48,362 shares of company stock worth $10,261,360. Insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. TheStreet upgraded L3Harris Technologies from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. UBS Group raised their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Finally, Raymond James upped their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $229.00.

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.