Adams Diversified Equity Fund Inc. Buys New Shares in L3Harris Technologies, Inc. (NYSE:LHX)

Adams Diversified Equity Fund Inc. bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 83,000 shares of the company’s stock, valued at approximately $17,453,000.

Several other hedge funds have also recently made changes to their positions in the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth about $27,000. Roxbury Financial LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth about $30,000. Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies during the 4th quarter worth about $33,000. New Millennium Group LLC grew its position in L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after purchasing an additional 163 shares during the period. Finally, Trust Co. of Vermont grew its position in L3Harris Technologies by 78.9% during the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after purchasing an additional 86 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Morgan Stanley cut their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company dropped their target price on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Susquehanna dropped their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada restated a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Finally, Truist Financial dropped their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $261.40.

L3Harris Technologies Trading Down 1.5 %

Shares of L3Harris Technologies stock opened at $209.91 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $209.80 and its 200 day moving average price is $226.46. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The firm has a market capitalization of $39.40 billion, a PE ratio of 26.67, a P/E/G ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.29%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Insiders Place Their Bets

In other news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,098 shares of company stock valued at $1,760,588 in the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

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.