L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Tufton Capital Management

Tufton Capital Management raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 6.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,607 shares of the company’s stock after acquiring an additional 805 shares during the period. Tufton Capital Management’s holdings in L3Harris Technologies were worth $2,655,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in L3Harris Technologies during the fourth quarter valued at about $342,413,000. Cowa LLC purchased a new stake in L3Harris Technologies during the first quarter valued at about $26,000. Renaissance Technologies LLC lifted its stake in L3Harris Technologies by 284.1% during the first quarter. Renaissance Technologies LLC now owns 766,870 shares of the company’s stock valued at $150,491,000 after buying an additional 567,200 shares in the last quarter. Two Sigma Investments LP purchased a new stake in L3Harris Technologies during the first quarter valued at about $83,532,000. Finally, Manning & Napier Group LLC lifted its stake in L3Harris Technologies by 58.6% during the third quarter. Manning & Napier Group LLC now owns 1,034,176 shares of the company’s stock valued at $180,071,000 after buying an additional 381,997 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Raymond James upped their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target for the company in a research report on Thursday, January 11th. Finally, Citigroup increased their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $229.00.

Insider Buying and Selling

In related news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 over the last ninety days. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

Shares of LHX traded up $1.56 during mid-day trading on Thursday, hitting $202.96. The company’s stock had a trading volume of 188,896 shares, compared to its average volume of 1,115,896. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. The firm has a market capitalization of $38.58 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 1.86 and a beta of 0.65. The stock’s 50-day moving average is $210.54 and its two-hundred day moving average is $199.59.

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

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $1.16 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 2.29%. The ex-dividend date was Thursday, March 7th. L3Harris Technologies’s dividend payout ratio (DPR) is 72.05%.

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.