Meritage Portfolio Management Purchases 133 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Meritage Portfolio Management boosted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 8.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,639 shares of the company’s stock after buying an additional 133 shares during the quarter. Meritage Portfolio Management’s holdings in L3Harris Technologies were worth $345,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LHX. Exchange Traded Concepts LLC increased its stake in L3Harris Technologies by 8.4% in the third quarter. Exchange Traded Concepts LLC now owns 3,228 shares of the company’s stock valued at $562,000 after purchasing an additional 251 shares in the last quarter. Czech National Bank increased its position in shares of L3Harris Technologies by 47.4% in the 3rd quarter. Czech National Bank now owns 33,056 shares of the company’s stock valued at $5,756,000 after buying an additional 10,628 shares in the last quarter. Ballentine Partners LLC raised its stake in L3Harris Technologies by 30.6% during the 3rd quarter. Ballentine Partners LLC now owns 3,315 shares of the company’s stock worth $577,000 after buying an additional 777 shares during the period. Focused Investors LLC grew its stake in L3Harris Technologies by 26.5% in the third quarter. Focused Investors LLC now owns 511,500 shares of the company’s stock valued at $89,062,000 after acquiring an additional 107,050 shares during the period. Finally, Oak Harbor Wealth Partners LLC grew its position in shares of L3Harris Technologies by 6.2% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 3,016 shares of the company’s stock valued at $525,000 after purchasing an additional 177 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $214.54 on Friday. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a market cap of $40.79 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 1.93 and a beta of 0.65. The business’s 50 day moving average price is $210.16 and its two-hundred day moving average price is $201.28. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter in the prior year, the business earned $2.86 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. The ex-dividend date is Friday, May 31st. This represents a $4.64 annualized dividend and a yield of 2.16%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Analysts Set New Price Targets

Several analysts have commented on LHX shares. UBS Group raised their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Royal Bank of Canada lifted their price target on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Raymond James upped their price target on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research report on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $229.60.

Insider Transactions at L3Harris Technologies

In other news, Director William H. Swanson acquired 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares in the company, valued at approximately $332,285.05. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William H. Swanson purchased 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 over the last quarter. Company insiders own 0.82% of the company’s stock.

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.