Horizon Investments LLC Buys 94 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Horizon Investments LLC increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,208 shares of the company’s stock after acquiring an additional 94 shares during the quarter. Horizon Investments LLC’s holdings in L3Harris Technologies were worth $885,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of LHX. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies during the fourth quarter worth approximately $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $30,000. Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies during the 4th quarter worth approximately $33,000. New Millennium Group LLC boosted its stake in L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after purchasing an additional 163 shares during the period. Finally, Trust Co. of Vermont grew its holdings in L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LHX. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. UBS Group boosted their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Citigroup lowered their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Bank of America cut their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $213.07 on Thursday. 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 cap of $40.00 billion, a PE ratio of 27.07, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The business’s 50-day moving average price is $209.74 and its two-hundred day moving average price is $226.58.

L3Harris Technologies (NYSE:LHX) last announced its quarterly 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 net margin of 7.04% and a return on equity of 13.11%. As a group, analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed 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 is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.25%. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were 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 owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,098 shares of company stock worth $1,760,588 in the last 90 days. Insiders own 0.72% of the company’s stock.

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.