Sheaff Brock Investment Advisors LLC Purchases New Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Sheaff Brock Investment Advisors LLC purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 917 shares of the company’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Capital World Investors increased its position in shares of L3Harris Technologies by 24.3% during the fourth quarter. Capital World Investors now owns 14,871,240 shares of the company’s stock valued at $3,171,143,000 after acquiring an additional 2,906,014 shares during the last quarter. Norges Bank purchased a new stake in L3Harris Technologies in the fourth quarter worth $324,398,000. Millennium Management LLC increased its position in L3Harris Technologies by 1,598.2% in the fourth quarter. Millennium Management LLC now owns 1,228,124 shares of the company’s stock worth $261,885,000 after buying an additional 1,155,803 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in L3Harris Technologies by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 989,839 shares of the company’s stock worth $211,074,000 after buying an additional 9,750 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in L3Harris Technologies by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 958,701 shares of the company’s stock worth $204,429,000 after buying an additional 81,281 shares during the last quarter. 80.15% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

NYSE:LHX opened at $234.58 on Friday. The firm has a market capitalization of $44.89 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 5.34 and a beta of 0.67. L3Harris Technologies, Inc. has a 52-week low of $200.71 and a 52-week high of $279.71. The stock has a fifty day moving average of $233.73 and a 200 day moving average of $237.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.27.

L3Harris Technologies (NYSE:LHX – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $0.07. The company had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.23 billion. L3Harris Technologies had a return on equity of 13.09% and a net margin of 11.36%. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter last year, the company earned $3.26 earnings per share. On average, research analysts expect that L3Harris Technologies, Inc. will post 13.42 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, September 2nd will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 1.91%. The ex-dividend date is Thursday, September 1st. L3Harris Technologies’s dividend payout ratio (DPR) is currently 46.14%.

Insiders Place Their Bets

In other L3Harris Technologies news, VP James P. Girard sold 7,500 shares of L3Harris Technologies stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $240.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the vice president now owns 10,811 shares of the company’s stock, valued at $2,594,640. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on LHX. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Susquehanna Bancshares decreased their target price on L3Harris Technologies from $302.00 to $298.00 in a research report on Monday, May 2nd. Susquehanna decreased their target price on L3Harris Technologies from $302.00 to $298.00 in a research report on Monday, May 2nd. Finally, Jefferies Financial Group cut their price target on L3Harris Technologies from $320.00 to $300.00 in a report on Monday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $266.20.

L3Harris Technologies Company Profile

(Get Rating)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.