L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Ethic Inc.

Ethic Inc. raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 208.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,334 shares of the company’s stock after purchasing an additional 6,987 shares during the period. Ethic Inc.’s holdings in L3Harris Technologies were worth $2,173,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. grew its position in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after buying an additional 82 shares during the last quarter. Millstone Evans Group LLC bought a new position in L3Harris Technologies in the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies in the fourth quarter valued at approximately $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after purchasing an additional 111 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $219.15 on Monday. The stock has a market cap of $40.97 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 2.42 and a beta of 0.72. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock’s 50 day moving average price is $213.93 and its 200 day moving average price is $220.02.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $3.06 EPS. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Bank of America dropped their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and boosted their price target for the company from $198.00 to $263.00 in a report on Friday, April 11th. UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Finally, Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $256.56.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was 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 owned by corporate insiders.

About L3Harris Technologies

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.