1,241 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Bought by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC acquired a new position in L3Harris Technologies, Inc. (NYSE:LHXFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,241 shares of the company’s stock, valued at approximately $261,000.

Other hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC purchased a new position in L3Harris Technologies in the 3rd quarter valued at approximately $645,000. Triumph Capital Management boosted its position in shares of L3Harris Technologies by 5.4% in the third quarter. Triumph Capital Management now owns 1,585 shares of the company’s stock valued at $276,000 after acquiring an additional 81 shares during the period. Cutter & CO Brokerage Inc. increased its holdings in L3Harris Technologies by 79.3% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 18,468 shares of the company’s stock worth $3,216,000 after acquiring an additional 8,168 shares during the period. Dearborn Partners LLC lifted its stake in L3Harris Technologies by 6.4% in the 3rd quarter. Dearborn Partners LLC now owns 1,717 shares of the company’s stock worth $299,000 after purchasing an additional 104 shares in the last quarter. Finally, Scott Investment Partners LLP boosted its holdings in L3Harris Technologies by 31.0% in the 3rd quarter. Scott Investment Partners LLP now owns 5,500 shares of the company’s stock valued at $958,000 after purchasing an additional 1,300 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 0.8 %

Shares of LHX stock traded up $1.83 during trading hours on Wednesday, reaching $222.96. 256,734 shares of the stock were exchanged, compared to its average volume of 1,086,610. The firm has a market capitalization of $42.29 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 1.85 and a beta of 0.63. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $223.33. The company’s 50-day moving average price is $210.97 and its 200-day moving average price is $205.00. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHXGet Free Report) last issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.86 earnings per share. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 12.92 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insiders Place Their Bets

In other news, SVP Scott T. Mikuen sold 1,292 shares of the business’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 approximately $12,376,393.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the transaction, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. Insiders have sold a total of 48,362 shares of company stock worth $10,261,360 in the last three months. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LHX shares. JPMorgan Chase & Co. boosted their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Raymond James raised their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Royal Bank of Canada lifted their price objective on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Citigroup increased their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research note on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.80.

Check Out Our Latest Analysis on LHX

About L3Harris Technologies

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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