Edgestream Partners L.P. Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Edgestream Partners L.P. acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,119 shares of the company’s stock, valued at approximately $866,000.

Several other institutional investors have also recently made changes to their positions in LHX. OneDigital Investment Advisors LLC grew its position in L3Harris Technologies by 0.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after purchasing an additional 40 shares during the period. Archer Investment Corp grew its holdings in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. Sigma Planning Corp raised its position in L3Harris Technologies by 1.9% during the third quarter. Sigma Planning Corp now owns 2,613 shares of the company’s stock valued at $622,000 after acquiring an additional 49 shares in the last quarter. Measured Wealth Private Client Group LLC raised its position in L3Harris Technologies by 5.5% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock valued at $200,000 after acquiring an additional 50 shares in the last quarter. Finally, Avestar Capital LLC lifted its holdings in L3Harris Technologies by 4.2% in the third quarter. Avestar Capital LLC now owns 1,255 shares of the company’s stock valued at $299,000 after acquiring an additional 51 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In other news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the sale, the insider now owns 6,812 shares in the company, valued at approximately $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,862 shares of company stock valued at $2,155,054 in the last 90 days. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LHX shares. Truist Financial cut their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Tuesday, November 26th. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Susquehanna cut their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group increased their price target on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. 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 data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $261.40.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $212.58 on Wednesday. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $40.03 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The firm has a 50-day simple moving average of $209.17 and a 200-day simple moving average of $227.41.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.26%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s payout ratio is presently 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.