1,938 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by Victrix Investment Advisors

Victrix Investment Advisors purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,938 shares of the company’s stock, valued at approximately $407,000.

Other hedge funds have also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. increased its position in shares of L3Harris Technologies by 43.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,963 shares of the company’s stock worth $1,044,000 after purchasing an additional 1,501 shares in the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of L3Harris Technologies by 29.4% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,308 shares of the company’s stock worth $275,000 after buying an additional 297 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of L3Harris Technologies by 20.5% during the fourth quarter. Merit Financial Group LLC now owns 5,652 shares of the company’s stock worth $1,188,000 after buying an additional 961 shares in the last quarter. Arkadios Wealth Advisors raised its stake in shares of L3Harris Technologies by 9.6% in the fourth quarter. Arkadios Wealth Advisors now owns 1,452 shares of the company’s stock valued at $305,000 after acquiring an additional 127 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. boosted its holdings in shares of L3Harris Technologies by 30.4% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 1,782 shares of the company’s stock worth $375,000 after acquiring an additional 415 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LHX. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Morgan Stanley lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company cut their price target on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. 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, Bank of America dropped their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $256.56.

L3Harris Technologies Trading Up 1.6%

LHX opened at $230.42 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company has a market cap of $43.08 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The firm has a 50 day simple moving average of $214.69 and a 200 day simple moving average of $219.15. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

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

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.08%. L3Harris Technologies’s dividend payout ratio is presently 56.94%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This trade represents a 53.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

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.