Analyst IMS Investment Management Services Ltd. Buys Shares of 1,000 L3Harris Technologies, Inc. (NYSE:LHX)

Analyst IMS Investment Management Services Ltd. bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,000 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors also recently modified their holdings of LHX. NBC Securities Inc. purchased a new stake in shares of L3Harris Technologies during the 3rd quarter valued at approximately $73,000. Ieq Capital LLC lifted its stake in shares of L3Harris Technologies by 25.8% during the 3rd quarter. Ieq Capital LLC now owns 7,276 shares of the company’s stock valued at $1,267,000 after buying an additional 1,492 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of L3Harris Technologies by 13.0% during the 3rd quarter. Victory Capital Management Inc. now owns 75,873 shares of the company’s stock valued at $13,211,000 after buying an additional 8,751 shares in the last quarter. XML Financial LLC lifted its stake in shares of L3Harris Technologies by 104.6% during the 3rd quarter. XML Financial LLC now owns 9,564 shares of the company’s stock valued at $1,665,000 after buying an additional 4,890 shares in the last quarter. Finally, Versor Investments LP lifted its stake in shares of L3Harris Technologies by 453.3% during the 3rd quarter. Versor Investments LP now owns 7,248 shares of the company’s stock valued at $1,262,000 after buying an additional 5,938 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LHX. JPMorgan Chase & Co. upped their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Wells Fargo & Company increased their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research note on Monday, April 22nd. Barclays increased their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $231.80.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,086,585.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,086,585.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the sale, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,362 shares of company stock valued at $15,889,110. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded up $0.14 during trading on Friday, reaching $223.25. The company had a trading volume of 426,847 shares, compared to its average volume of 890,691. The company has a fifty day moving average of $212.47 and a two-hundred day moving average of $207.40. The stock has a market capitalization of $42.35 billion, a P/E ratio of 36.24, a price-to-earnings-growth ratio of 1.87 and a beta of 0.63. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $225.90. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same quarter in the prior year, the firm earned $2.86 EPS. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities research analysts forecast that L3Harris Technologies, Inc. will post 12.89 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

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.