25,948 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Purchased by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, HoldingsChannel.com reports. The fund bought 25,948 shares of the company’s stock, valued at approximately $5,456,000.

Several other hedge funds also recently modified their holdings of LHX. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $27,000. Archer Investment Corp boosted its holdings in shares of 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 purchasing an additional 43 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at $30,000. Kennebec Savings Bank acquired a new position in L3Harris Technologies in the third quarter valued at $36,000. Finally, Union Bancaire Privee UBP SA acquired a new position in L3Harris Technologies in the fourth quarter valued at $33,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent analyst reports. UBS Group lifted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Susquehanna cut their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $261.47.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now directly owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 4,901 shares of company stock valued at $1,059,757 in the last quarter. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $213.82 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a market capitalization of $40.26 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 2.42 and a beta of 0.74. The business has a 50-day moving average of $208.78 and a 200-day moving average of $227.73.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share 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%. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.24%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) 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.