1,115 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by PDS Planning Inc

PDS Planning Inc purchased a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,115 shares of the company’s stock, valued at approximately $235,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Manning & Napier Group LLC increased its stake in shares of L3Harris Technologies by 58.6% during the third quarter. Manning & Napier Group LLC now owns 1,034,176 shares of the company’s stock worth $180,071,000 after buying an additional 381,997 shares during the period. Mondrian Investment Partners LTD increased its holdings in L3Harris Technologies by 32,907.5% during the 3rd quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock worth $66,208,000 after purchasing an additional 379,094 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in L3Harris Technologies by 53.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock worth $179,709,000 after buying an additional 296,654 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in L3Harris Technologies by 22.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after acquiring an additional 266,468 shares during the period. Finally, Mizuho Markets Americas LLC acquired a new stake in shares of L3Harris Technologies in the third quarter valued at $35,207,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on LHX shares. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price for the company in a research note on Thursday, January 11th. Raymond James boosted their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada upped their price objective on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.60.

L3Harris Technologies Trading Down 0.2 %

Shares of NYSE LHX opened at $207.62 on Wednesday. The stock has a market cap of $39.47 billion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 1.93 and a beta of 0.65. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The company’s fifty day moving average is $210.23 and its 200-day moving average is $200.95. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34.

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

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s payout ratio is currently 72.05%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 value of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Swanson bought 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now owns 1,543 shares in the company, valued at $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 three months. 0.87% of the stock is currently owned by corporate insiders.

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.