Tidal Investments LLC Purchases 8,001 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Tidal Investments LLC lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 70.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,378 shares of the company’s stock after acquiring an additional 8,001 shares during the period. Tidal Investments LLC’s holdings in L3Harris Technologies were worth $4,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in LHX. Vanguard Group Inc. grew its stake in L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the period. Geode Capital Management LLC grew its stake in L3Harris Technologies by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock worth $1,004,418,000 after purchasing an additional 53,787 shares during the period. FMR LLC grew its stake in L3Harris Technologies by 11.5% during the fourth quarter. FMR LLC now owns 2,261,999 shares of the company’s stock worth $475,653,000 after purchasing an additional 233,968 shares during the period. Invesco Ltd. grew its stake in L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock worth $469,992,000 after purchasing an additional 522,861 shares during the period. Finally, Raymond James Financial Inc. bought a new position in L3Harris Technologies during the fourth quarter worth $398,507,000. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. This represents a 5.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction 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 transaction, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LHX has been the subject of several research analyst reports. Jefferies Financial Group decreased 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 note on Monday, March 31st. Wells Fargo & Company decreased their price target 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. UBS Group lifted their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Bank of America decreased their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Finally, Citigroup decreased their price objective on L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $256.56.

L3Harris Technologies Stock Performance

NYSE LHX opened at $230.80 on Wednesday. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. 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 firm has a market cap of $43.15 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 2.42 and a beta of 0.72. The company has a fifty day moving average price of $215.52 and a 200-day moving average price of $219.12.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the prior year, the firm posted $3.06 EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS 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. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. 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 (DPR) is currently 56.94%.

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.