SGL Investment Advisors Inc. Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

SGL Investment Advisors Inc. boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 22.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,635 shares of the company’s stock after purchasing an additional 2,908 shares during the quarter. L3Harris Technologies comprises 1.6% of SGL Investment Advisors Inc.’s portfolio, making the stock its 28th largest position. SGL Investment Advisors Inc.’s holdings in L3Harris Technologies were worth $3,137,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sherbrooke Park Advisers LLC acquired a new position in L3Harris Technologies during the fourth quarter valued at approximately $375,000. Rafferty Asset Management LLC lifted its position in shares of L3Harris Technologies by 12.7% during the fourth quarter. Rafferty Asset Management LLC now owns 45,002 shares of the company’s stock worth $9,463,000 after purchasing an additional 5,079 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in L3Harris Technologies in the fourth quarter valued at $58,000. Point72 Asset Management L.P. raised its holdings in L3Harris Technologies by 1.2% in the fourth quarter. Point72 Asset Management L.P. now owns 282,188 shares of the company’s stock valued at $59,339,000 after acquiring an additional 3,240 shares in the last quarter. Finally, Point72 Hong Kong Ltd raised its holdings in L3Harris Technologies by 2,666.4% in the fourth quarter. Point72 Hong Kong Ltd now owns 56,821 shares of the company’s stock valued at $11,948,000 after acquiring an additional 54,767 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

LHX stock opened at $227.07 on Friday. 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, Inc. has a one year low of $193.09 and a one year high of $265.74. The firm has a market capitalization of $42.45 billion, a PE ratio of 28.85, a P/E/G ratio of 2.42 and a beta of 0.72. The firm has a 50-day moving average of $214.33 and a two-hundred day moving average of $219.63.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the firm earned $3.06 earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is 56.94%.

Analysts Set New Price Targets

LHX has been the topic of several recent analyst reports. Morgan Stanley cut their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Bank of America lowered their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Jefferies Financial Group lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, March 31st. JPMorgan Chase & Co. decreased their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned 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 Transactions at L3Harris Technologies

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