L3Harris Technologies, Inc. (NYSE:LHX) Stake Boosted by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,265 shares of the company’s stock after purchasing an additional 125 shares during the quarter. NewEdge Advisors LLC’s holdings in L3Harris Technologies were worth $3,210,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LHX. Morse Asset Management Inc acquired a new stake in shares of L3Harris Technologies during the third quarter valued at approximately $119,000. World Investment Advisors LLC lifted its holdings in shares of L3Harris Technologies by 220.3% in the third quarter. World Investment Advisors LLC now owns 32,580 shares of the company’s stock valued at $7,750,000 after purchasing an additional 22,407 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of L3Harris Technologies in the third quarter worth $1,704,000. Synovus Financial Corp grew its holdings in shares of L3Harris Technologies by 17.5% during the third quarter. Synovus Financial Corp now owns 6,734 shares of the company’s stock valued at $1,602,000 after buying an additional 1,003 shares in the last quarter. Finally, Peapack Gladstone Financial Corp lifted its stake in L3Harris Technologies by 0.5% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 41,577 shares of the company’s stock worth $9,890,000 after acquiring an additional 194 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of the 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 completion of the sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now directly owns 30,620 shares in the company, valued at approximately $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. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Price Performance

NYSE LHX opened at $218.01 on Monday. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a fifty day simple moving average of $208.87 and a 200 day simple moving average of $222.89. 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 company has a market cap of $40.92 billion, a P/E ratio of 27.70, a P/E/G ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating 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 year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.20%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 60.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LHX shares. Susquehanna lowered their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. UBS Group boosted their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Morgan Stanley cut their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, Truist Financial cut their price objective on L3Harris Technologies from $274.00 to $264.00 and set a “buy” rating for the company in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $256.35.

L3Harris Technologies Company 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.