2,392 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Bought by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,392 shares of the company’s stock, valued at approximately $504,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its position in L3Harris Technologies by 4.1% in the first quarter. State Street Corp now owns 8,691,190 shares of the company’s stock worth $1,705,558,000 after purchasing an additional 339,806 shares during the period. Geode Capital Management LLC lifted its position in L3Harris Technologies by 1.0% in the first quarter. Geode Capital Management LLC now owns 3,556,352 shares of the company’s stock worth $696,145,000 after purchasing an additional 34,726 shares during the period. Morgan Stanley lifted its position in L3Harris Technologies by 1.9% in the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock worth $436,684,000 after purchasing an additional 47,691 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of L3Harris Technologies by 5.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,959,403 shares of the company’s stock valued at $341,171,000 after acquiring an additional 101,507 shares during the period. Finally, Norges Bank bought a new position in shares of L3Harris Technologies during the fourth quarter valued at $342,413,000. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Truist Financial lifted their price objective on L3Harris Technologies from $224.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, December 14th. TheStreet raised L3Harris Technologies from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Citigroup lifted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Raymond James lifted their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

Insider Buying and Selling

In other news, Director William H. Swanson acquired 1,250 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the transaction, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Scott T. Mikuen sold 3,363 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $212.86, for a total value of $715,848.18. Following the transaction, the senior vice president now owns 55,254 shares of the company’s stock, valued at $11,761,366.44. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 over the last three months. 0.87% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $205.49 on Thursday. The stock has a 50-day moving average price of $211.15 and a 200 day moving average price of $198.60. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a market cap of $39.07 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 1.94 and a beta of 0.65. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. The firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the company earned $3.27 earnings per share. Research analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.26%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date was Thursday, March 7th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

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.