Nemes Rush Group LLC Raises Position in L3Harris Technologies, Inc. (NYSE:LHX)

Nemes Rush Group LLC raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 13.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,392 shares of the company’s stock after buying an additional 3,785 shares during the quarter. Nemes Rush Group LLC’s holdings in L3Harris Technologies were worth $6,811,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its position in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after acquiring an additional 82 shares in the last quarter. Millstone Evans Group LLC bought a new stake in L3Harris Technologies during the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter worth about $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at about $30,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of L3Harris Technologies during the 4th quarter valued at about $33,000. 84.76% of the stock is currently owned by institutional investors.

Insider Transactions at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of several research reports. Morgan Stanley cut their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. decreased their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, Jefferies Financial Group lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.69.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $209.35 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market cap of $39.30 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 2.42 and a beta of 0.74. The business’s fifty day moving average is $209.16 and its 200 day moving average is $225.37. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.29%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s payout ratio is 60.99%.

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.