Sapient Capital LLC Buys Shares of 5,689 L3Harris Technologies, Inc. (NYSE:LHX)

Sapient Capital LLC purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, Holdings Channel.com reports. The fund purchased 5,689 shares of the company’s stock, valued at approximately $1,198,000.

Several other institutional investors and hedge funds have also modified their holdings of LHX. Strong Tower Advisory Services increased its holdings in shares of L3Harris Technologies by 0.9% during the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after buying an additional 49 shares in the last quarter. Blossom Wealth Management increased its holdings in L3Harris Technologies by 2.1% in the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after purchasing an additional 51 shares in the last quarter. Parkside Financial Bank & Trust raised its position in L3Harris Technologies by 13.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after purchasing an additional 58 shares during the last quarter. Cassaday & Co Wealth Management LLC boosted its stake in shares of L3Harris Technologies by 3.8% during the third quarter. Cassaday & Co Wealth Management LLC now owns 1,622 shares of the company’s stock valued at $282,000 after purchasing an additional 59 shares in the last quarter. Finally, Sky Investment Group LLC grew its holdings in shares of L3Harris Technologies by 4.2% during the third quarter. Sky Investment Group LLC now owns 1,495 shares of the company’s stock worth $260,000 after purchasing an additional 60 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LHX shares. UBS Group raised their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Raymond James raised their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Citigroup lifted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. increased their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Wells Fargo & Company cut their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $231.33.

Insider Activity

In other news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the sale, the insider now owns 28,644 shares in the company, valued at $6,057,346.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the transaction, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction dated Friday, March 15th. The shares were 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 of the company’s stock, valued at $12,376,393.38. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 in the last three months. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Trading Up 0.4 %

LHX stock traded up $0.90 during mid-day trading on Friday, reaching $212.24. The company’s stock had a trading volume of 790,904 shares, compared to its average volume of 1,043,142. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average price is $210.18 and its 200 day moving average price is $202.54. The company has a market cap of $40.26 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. L3Harris Technologies’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.86 EPS. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 12.91 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.19%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.