124 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Purchased by Millstone Evans Group LLC

Millstone Evans Group LLC bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 124 shares of the company’s stock, valued at approximately $26,000.

A number of other institutional investors have also added to or reduced their stakes in LHX. Raymond James Financial Inc. bought a new position in shares of L3Harris Technologies in the 4th quarter worth $398,507,000. Boston Partners raised its holdings in L3Harris Technologies by 20.2% in the fourth quarter. Boston Partners now owns 1,178,741 shares of the company’s stock worth $247,893,000 after purchasing an additional 198,243 shares in the last quarter. National Pension Service lifted its position in shares of L3Harris Technologies by 42.1% during the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock valued at $127,440,000 after buying an additional 179,539 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of L3Harris Technologies by 132.4% in the 4th quarter. Victory Capital Management Inc. now owns 280,540 shares of the company’s stock valued at $58,992,000 after buying an additional 159,806 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,334 shares of company stock valued at $1,383,709. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on LHX. Truist Financial decreased their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Citigroup reduced their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Finally, Susquehanna cut their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

L3Harris Technologies Price Performance

NYSE:LHX opened at $210.88 on Tuesday. The firm’s fifty day moving average is $209.74 and its two-hundred day moving average is $225.98. The firm has a market cap of $39.59 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.28%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s payout ratio is 60.99%.

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.