Plato Investment Management Ltd Acquires 3,042 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Plato Investment Management Ltd raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1,052.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,331 shares of the company’s stock after purchasing an additional 3,042 shares during the period. Plato Investment Management Ltd’s holdings in L3Harris Technologies were worth $710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of LHX. Bfsg LLC acquired a new stake in L3Harris Technologies during the 1st quarter valued at $25,000. Transcendent Capital Group LLC bought a new position in shares of L3Harris Technologies in the fourth quarter valued at about $28,000. EntryPoint Capital LLC raised its stake in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares during the last quarter. Blue Trust Inc. lifted its position in shares of L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares in the last quarter. Finally, Sachetta LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth $49,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $222.45, for a total value of $5,561,250.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares in the company, valued at approximately $26,766,518.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The disclosure for this sale can be found here. Insiders have sold 109,312 shares of company stock worth $24,712,822 over the last 90 days. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on LHX. JPMorgan Chase & Co. upped their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Barclays raised their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and increased their price target for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Finally, Susquehanna lifted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.60.

L3Harris Technologies Price Performance

Shares of LHX stock traded down $0.69 during mid-day trading on Friday, hitting $228.53. The company had a trading volume of 607,021 shares, compared to its average volume of 1,003,116. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The company has a market capitalization of $43.35 billion, a P/E ratio of 36.98, a P/E/G ratio of 1.88 and a beta of 0.72. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $245.60. The stock’s 50 day moving average price is $226.44 and its 200-day moving average price is $216.60.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the previous year, the company earned $2.97 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research analysts forecast that L3Harris Technologies, Inc. will post 13.04 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

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.