L3Harris Technologies Inc (NYSE:LHX) Position Increased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC increased its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,809 shares of the company’s stock after buying an additional 225 shares during the quarter. New Age Alpha Advisors LLC’s holdings in L3Harris Technologies were worth $2,681,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. raised its stake in shares of L3Harris Technologies by 5.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company’s stock valued at $926,000 after purchasing an additional 216 shares in the last quarter. BankPlus Wealth Management LLC raised its position in shares of L3Harris Technologies by 6.0% during the 1st quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company’s stock worth $432,000 after buying an additional 117 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of L3Harris Technologies by 21.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company’s stock worth $1,488,000 after acquiring an additional 1,236 shares during the period. Brighton Jones LLC boosted its holdings in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after acquiring an additional 3,001 shares in the last quarter. Finally, Capital Analysts LLC boosted its holdings in shares of L3Harris Technologies by 4.2% in the fourth quarter. Capital Analysts LLC now owns 44,510 shares of the company’s stock valued at $9,360,000 after acquiring an additional 1,808 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Down 0.2%

Shares of NYSE:LHX opened at $277.57 on Thursday. The firm has a 50 day simple moving average of $257.14 and a 200 day simple moving average of $229.08. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $280.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market cap of $51.93 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 2.03 and a beta of 0.77.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.24 earnings per share. As a group, research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a $1.20 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio is currently 53.63%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the 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 completion of the sale, the insider owned 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 72,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $39,472,018.92. This represents a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 107,061 shares of company stock worth $28,227,077 in the last quarter. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LHX shares. Truist Financial upped their target price on L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Citigroup upped their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a report on Friday, July 25th. UBS Group raised their target price on L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Robert W. Baird lifted their target price on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada upped their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $279.47.

L3Harris Technologies 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.