111 Capital Acquires New Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

111 Capital purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 8,608 shares of the company’s stock, valued at approximately $1,810,000.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LHX. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Morgan Stanley reduced their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. UBS Group lifted their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and upped their target price for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Jefferies Financial Group lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $256.56.

Insider Activity

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies 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. The trade was a 5.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. The trade was 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 insiders.

L3Harris Technologies Stock Up 4.5%

Shares of NYSE:LHX opened at $248.15 on Wednesday. The company’s fifty day moving average is $218.24 and its 200-day moving average is $218.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a market capitalization of $46.39 billion, a PE ratio of 31.53, a P/E/G ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. The firm had revenue of $5.13 billion for 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 company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.06 earnings per share. Equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.93%. L3Harris Technologies’s payout ratio is currently 56.94%.

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.