Jefferies Financial Group Inc. Invests $232,000 in L3Harris Technologies, Inc. (NYSE:LHX)

Jefferies Financial Group Inc. acquired a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,104 shares of the company’s stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted 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 buying an additional 401,168 shares in the last quarter. Geode Capital Management LLC boosted 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 buying an additional 53,787 shares in the last quarter. FMR LLC boosted 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 buying an additional 233,968 shares in the last quarter. Invesco Ltd. boosted 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 buying an additional 522,861 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in L3Harris Technologies during the fourth quarter worth $398,507,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LHX. Wells Fargo & Company decreased their price target 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. UBS Group lifted their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Royal Bank of Canada reissued a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Bank of America cut 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. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $256.56.

Insider Buying and Selling

In other news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. The trade was a 5.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $230.42 on Friday. The stock has a 50-day simple moving average of $214.69 and a 200 day simple moving average of $219.35. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $43.08 billion, a price-to-earnings ratio of 29.28, a P/E/G ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The company’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the company earned $3.06 earnings per share. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.08%. L3Harris Technologies’s payout ratio is 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.