2,516 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Purchased by Simmons Bank

Simmons Bank purchased a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,516 shares of the company’s stock, valued at approximately $530,000.

A number of other institutional investors also recently bought and sold shares of LHX. Verdence Capital Advisors LLC purchased a new stake in shares of L3Harris Technologies in the third quarter worth about $209,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of L3Harris Technologies by 8.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,161 shares of the company’s stock worth $8,386,000 after purchasing an additional 3,779 shares during the period. Strs Ohio increased its holdings in shares of L3Harris Technologies by 4.4% during the 3rd quarter. Strs Ohio now owns 175,800 shares of the company’s stock valued at $30,610,000 after purchasing an additional 7,395 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in L3Harris Technologies by 9.3% in the third quarter. IFM Investors Pty Ltd now owns 19,684 shares of the company’s stock valued at $3,427,000 after buying an additional 1,672 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of L3Harris Technologies in the third quarter worth about $645,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on 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 sale, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction dated 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 legal filing with the SEC, which is available at this link. Also, Director William H. Swanson purchased 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the purchase, the director now directly owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 in the last 90 days. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded up $0.11 during midday trading on Wednesday, hitting $216.02. The company had a trading volume of 408,293 shares, compared to its average volume of 1,107,697. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The stock has a market cap of $40.97 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The business’s 50-day simple moving average is $210.32 and its 200-day simple moving average is $203.41.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the company earned $2.86 EPS. On average, research analysts predict that L3Harris Technologies, Inc. will post 12.91 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $4.64 annualized dividend and a dividend yield of 2.15%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Wall Street Analysts Forecast Growth

LHX has been the subject of several recent analyst reports. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Wells Fargo & Company increased their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a report on Monday, April 22nd. Finally, Raymond James lifted their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have given 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 $231.80.

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.