1,525 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Bought by Simon Quick Advisors LLC

Simon Quick Advisors LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 1,525 shares of the company’s stock, valued at approximately $319,000.

A number of other large investors also recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. increased its position 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 valued at $25,000 after acquiring an additional 82 shares during the period. Millstone Evans Group LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at about $27,000. Roxbury Financial LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased 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. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on LHX. UBS Group boosted their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research report on Monday, April 28th. The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their target price for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Truist Financial cut their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, Jefferies Financial Group cut their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.75.

Insider Transactions at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider now owns 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Trading Up 2.7%

NYSE:LHX opened at $257.06 on Friday. L3Harris Technologies, Inc. has a one year low of $193.09 and a one 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 company’s 50-day simple moving average is $227.95 and its 200 day simple moving average is $218.27. The firm has a market capitalization of $48.06 billion, a P/E ratio of 32.66, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the previous year, the firm posted $3.06 earnings per share. L3Harris Technologies’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS 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 paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.87%. L3Harris Technologies’s dividend payout ratio is presently 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.