5,550 Shares in L3Harris Technologies Inc $LHX Bought by MH & Associates Securities Management Corp ADV

MH & Associates Securities Management Corp ADV purchased a new position in L3Harris Technologies Inc (NYSE:LHX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,550 shares of the company’s stock, valued at approximately $1,629,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitlin John LLC purchased a new stake in L3Harris Technologies in the third quarter worth about $28,000. JPL Wealth Management LLC purchased a new stake in L3Harris Technologies in the third quarter worth about $29,000. American National Bank & Trust grew its holdings in L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after purchasing an additional 30 shares during the period. Triumph Capital Management purchased a new stake in L3Harris Technologies in the third quarter worth about $31,000. Finally, GGM Financials LLC purchased a new stake in L3Harris Technologies in the third quarter worth about $32,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the sale, the insider owned 7,660 shares in the company, valued at approximately $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Samir Mehta sold 5,528 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider owned 7,756 shares in the company, valued at $2,872,201.92. This represents a 41.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 19,025 shares of company stock valued at $6,824,370 over the last ninety days. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Trading Up 2.0%

L3Harris Technologies stock opened at $361.14 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. L3Harris Technologies Inc has a one year low of $195.99 and a one year high of $379.23. The stock has a market capitalization of $67.46 billion, a PE ratio of 42.34, a price-to-earnings-growth ratio of 2.57 and a beta of 0.62. The business’s fifty day moving average is $354.27 and its 200 day moving average is $318.58.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same period last year, the firm posted $3.47 earnings per share. L3Harris Technologies’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Friday, March 6th. L3Harris Technologies’s payout ratio is 58.62%.

Analysts Set New Price Targets

A number of brokerages have weighed in on LHX. JPMorgan Chase & Co. upped their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. UBS Group increased their target price on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Citigroup increased their target price on L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, February 6th. Finally, Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $342.33.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.