Potomac Fund Management Inc. ADV Invests $1.44 Million in L3Harris Technologies, Inc. (NYSE:LHX)

Potomac Fund Management Inc. ADV purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 6,854 shares of the company’s stock, valued at approximately $1,441,000. L3Harris Technologies makes up approximately 1.3% of Potomac Fund Management Inc. ADV’s portfolio, making the stock its 18th biggest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC raised its holdings in L3Harris Technologies by 5.5% during the 4th 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 during the period. Premier Path Wealth Partners LLC grew its position in shares of L3Harris Technologies by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock valued at $328,000 after purchasing an additional 51 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of L3Harris Technologies by 2.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock valued at $514,000 after purchasing an additional 53 shares during the period. Klingman & Associates LLC lifted its holdings in L3Harris Technologies by 2.8% during the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock worth $406,000 after purchasing an additional 53 shares in the last quarter. Finally, Zullo Investment Group Inc. boosted its stake in L3Harris Technologies by 3.2% in the 4th quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company’s stock worth $361,000 after purchasing an additional 54 shares during the period. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LHX has been the topic of several analyst reports. Morgan Stanley decreased their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. UBS Group upped their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Finally, Citigroup dropped their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $260.69.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $209.71 on Wednesday. The stock’s 50-day moving average is $208.90 and its 200 day moving average is $225.23. The stock has a market cap of $39.37 billion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $1.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.29%. L3Harris Technologies’s payout ratio is currently 60.99%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction that occurred 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 owns 30,620 shares in the company, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Company 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.