Disciplined Investors L.L.C. Acquires New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Disciplined Investors L.L.C. purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,989 shares of the company’s stock, valued at approximately $426,000.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after buying an additional 401,168 shares during the period. Geode Capital Management LLC raised its position in L3Harris Technologies by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock worth $1,004,418,000 after acquiring an additional 53,787 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in L3Harris Technologies in the 4th quarter valued at about $398,507,000. Charles Schwab Investment Management Inc. boosted its position in shares of L3Harris Technologies by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock valued at $254,461,000 after purchasing an additional 32,979 shares in the last quarter. Finally, Boston Partners grew its stake in shares of L3Harris Technologies by 20.2% in the 4th quarter. Boston Partners now owns 1,178,741 shares of the company’s stock worth $247,893,000 after purchasing an additional 198,243 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LHX shares. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Jefferies Financial Group reduced their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday. Citigroup cut their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Truist Financial decreased their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.69.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $211.93 on Thursday. The firm has a market cap of $39.78 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $208.73 and a 200 day simple moving average of $225.14.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping 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, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $1.20 dividend. The ex-dividend date was Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.26%. L3Harris Technologies’s payout ratio is 60.99%.

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.