863 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by GAMMA Investing LLC

GAMMA Investing LLC purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 863 shares of the company’s stock, valued at approximately $180,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Morgan Stanley raised its position in L3Harris Technologies by 1.9% during the 3rd quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock valued at $436,684,000 after purchasing an additional 47,691 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of L3Harris Technologies by 4.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock worth $430,049,000 after acquiring an additional 82,423 shares in the last quarter. Northern Trust Corp raised its position in shares of L3Harris Technologies by 4.6% in the 3rd quarter. Northern Trust Corp now owns 1,570,639 shares of the company’s stock worth $273,480,000 after acquiring an additional 68,545 shares in the last quarter. Invesco Ltd. raised its position in shares of L3Harris Technologies by 15.3% in the 3rd quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock worth $254,187,000 after acquiring an additional 193,690 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its position in shares of L3Harris Technologies by 22.5% in 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 in the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total value 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 approximately $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total value 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 approximately $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,362 shares of company stock valued at $10,261,360. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Up 3.5 %

Shares of LHX opened at $214.54 on Friday. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. 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 has a market capitalization of $40.79 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 1.93 and a beta of 0.65. The stock’s 50-day moving average price is $210.16 and its 200-day moving average price is $201.28.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. L3Harris Technologies’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.86 EPS. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a yield of 2.16%. L3Harris Technologies’s payout ratio is 75.32%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LHX shares. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Citigroup boosted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Wells Fargo & Company dropped their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. UBS Group boosted their target price on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada boosted their target price on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $229.60.

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.