Andrew Hill Investment Advisors Inc. Invests $363,000 in L3Harris Technologies, Inc. (NYSE:LHX)

Andrew Hill Investment Advisors Inc. purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,724 shares of the company’s stock, valued at approximately $363,000.

A number of other hedge funds have also recently bought and sold shares of LHX. Eagle Bay Advisors LLC acquired a new stake in L3Harris Technologies in the 2nd quarter valued at about $30,000. Strategic Investment Solutions Inc. IL bought a new position in L3Harris Technologies during the 1st quarter worth approximately $27,000. First Capital Advisors Group LLC. bought a new position in L3Harris Technologies during the 2nd quarter worth approximately $29,000. Mascoma Wealth Management LLC bought a new position in L3Harris Technologies during the 3rd quarter worth approximately $27,000. Finally, KB Financial Partners LLC lifted its stake in L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after buying an additional 82 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,362 shares of company stock worth $10,261,360. 0.82% of the stock is owned by insiders.

L3Harris Technologies Stock Up 1.1 %

Shares of NYSE LHX traded up $2.13 during mid-day trading on Friday, hitting $204.21. 309,067 shares of the stock traded hands, compared to its average volume of 1,111,796. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. The stock has a fifty day moving average price of $210.39 and a 200-day moving average price of $199.60. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The company has a market cap of $38.82 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 1.87 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.27 earnings per share. Research analysts anticipate that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $1.16 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Thursday, March 7th. L3Harris Technologies’s dividend payout ratio is presently 72.05%.

Wall Street Analysts Forecast Growth

Several research firms have commented on LHX. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Wells Fargo & Company lowered their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. TheStreet raised shares of L3Harris Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Royal Bank of Canada increased their target price on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Raymond James raised their target price on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $229.00.

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.