Smartleaf Asset Management LLC Grows Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Smartleaf Asset Management LLC boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 14.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,317 shares of the company’s stock after acquiring an additional 162 shares during the quarter. Smartleaf Asset Management LLC’s holdings in L3Harris Technologies were worth $275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LHX. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $27,000. Roxbury Financial LLC purchased a new position in L3Harris Technologies during the fourth quarter worth $30,000. Archer Investment Corp increased its position in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in L3Harris Technologies during the fourth quarter valued at $33,000. Finally, Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies in the third quarter valued at $36,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now directly owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 over the last three months. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LHX shares. UBS Group upped their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Morgan Stanley cut their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Tuesday, November 26th. Barclays cut their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Truist Financial reduced their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $261.47.

L3Harris Technologies Stock Up 1.8 %

Shares of NYSE LHX opened at $210.84 on Thursday. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The stock’s fifty day simple moving average is $208.77 and its two-hundred day simple moving average is $227.82. The stock has a market capitalization of $39.70 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued 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%. As a group, analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a dividend of $1.20 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a yield of 2.28%. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

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.