Sachetta LLC Takes $49,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Sachetta LLC acquired a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 234 shares of the company’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Coldstream Capital Management Inc. lifted its holdings in shares of L3Harris Technologies by 18.9% during the third quarter. Coldstream Capital Management Inc. now owns 2,812 shares of the company’s stock valued at $490,000 after purchasing an additional 446 shares during the last quarter. Duality Advisers LP purchased a new position in shares of L3Harris Technologies during the third quarter valued at approximately $902,000. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of L3Harris Technologies by 13.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,146 shares of the company’s stock valued at $722,000 after purchasing an additional 488 shares during the last quarter. SteelPeak Wealth LLC lifted its holdings in shares of L3Harris Technologies by 369.1% during the third quarter. SteelPeak Wealth LLC now owns 6,347 shares of the company’s stock valued at $1,105,000 after purchasing an additional 4,994 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of L3Harris Technologies by 9.9% during the third quarter. US Bancorp DE now owns 219,490 shares of the company’s stock valued at $38,218,000 after purchasing an additional 19,814 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the acquisition, the director now directly owns 1,543 shares in the company, valued at approximately $332,285.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,362 shares of company stock valued at $10,261,360. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $224.73 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The company’s 50-day moving average is $211.87 and its 200 day moving average is $206.51. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $225.90. The firm has a market capitalization of $42.63 billion, a P/E ratio of 36.58, 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same period last year, the firm earned $2.86 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Research analysts forecast that L3Harris Technologies, Inc. will post 12.92 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.06%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LHX. StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Barclays boosted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Wells Fargo & Company boosted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. boosted their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $231.80.

L3Harris Technologies 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.