L3Harris Technologies, Inc. (NYSE:LHX) Position Lifted by Valley National Advisers Inc.

Valley National Advisers Inc. raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 34.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 242 shares of the company’s stock after acquiring an additional 62 shares during the quarter. Valley National Advisers Inc.’s holdings in L3Harris Technologies were worth $50,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bleakley Financial Group LLC boosted its stake in L3Harris Technologies by 23.1% during the 4th quarter. Bleakley Financial Group LLC now owns 2,677 shares of the company’s stock valued at $564,000 after acquiring an additional 502 shares during the last quarter. Meeder Advisory Services Inc. lifted its position in shares of L3Harris Technologies by 12.5% in the 4th quarter. Meeder Advisory Services Inc. now owns 1,742 shares of the company’s stock worth $367,000 after buying an additional 194 shares during the last quarter. Means Investment CO. Inc. bought a new position in shares of L3Harris Technologies in the 4th quarter worth about $212,000. Nisa Investment Advisors LLC lifted its position in shares of L3Harris Technologies by 12.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 42,458 shares of the company’s stock worth $8,943,000 after buying an additional 4,852 shares during the last quarter. Finally, 180 Wealth Advisors LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth about $262,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX opened at $205.49 on Thursday. The firm’s 50 day moving average is $211.15 and its 200-day moving average is $198.60. The stock has a market capitalization of $39.07 billion, a P/E ratio of 31.91, a P/E/G ratio of 1.94 and a beta of 0.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.04. The company had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.27 EPS. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.26%. This is a boost 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%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LHX. UBS Group raised their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. Raymond James raised their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Royal Bank of Canada increased their price objective on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $184.00 to $240.00 in a report on Friday, December 15th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $229.00.

Insiders Place Their Bets

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. 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 ninety days. 0.87% of the stock is currently owned by company insiders.

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.