Keel Point LLC Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Keel Point LLC bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,230 shares of the company’s stock, valued at approximately $259,000.

Several other hedge funds have also recently bought and sold shares of LHX. Oak Family Advisors LLC purchased a new stake in L3Harris Technologies during the fourth quarter worth approximately $211,000. Sentry Investment Management LLC increased its holdings in L3Harris Technologies by 203.2% in the 4th quarter. Sentry Investment Management LLC now owns 3,329 shares of the company’s stock valued at $701,000 after purchasing an additional 2,231 shares in the last quarter. Bison Wealth LLC raised its position in L3Harris Technologies by 1.9% in the fourth quarter. Bison Wealth LLC now owns 3,138 shares of the company’s stock valued at $661,000 after purchasing an additional 60 shares during the period. Dakota Wealth Management raised its position in L3Harris Technologies by 1.1% in the fourth quarter. Dakota Wealth Management now owns 24,696 shares of the company’s stock valued at $5,201,000 after purchasing an additional 270 shares during the period. Finally, Cullen Investment Group LTD. acquired a new position in shares of L3Harris Technologies during the fourth quarter worth about $1,490,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX opened at $200.41 on Wednesday. The company has a market capitalization of $38.10 billion, a P/E ratio of 31.12, a PEG ratio of 1.89 and a beta of 0.65. The company has a 50-day moving average of $210.70 and a 200-day moving average of $199.57. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the firm earned $3.27 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend was Thursday, March 7th. L3Harris Technologies’s dividend payout ratio is 72.05%.

Analyst Ratings Changes

LHX has been the subject of a number of recent research reports. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Citigroup boosted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Raymond James upped their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. Finally, JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective on the stock in a report on Thursday, January 11th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William H. Swanson purchased 1,250 shares of the stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, with a total value of $269,187.50. Following the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 in the last quarter. Insiders own 0.87% of the company’s stock.

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.