Summit Global Investments Buys Shares of 1,891 L3Harris Technologies, Inc. (NYSE:LHX)

Summit Global Investments purchased a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,891 shares of the company’s stock, valued at approximately $398,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Strong Tower Advisory Services increased its stake in L3Harris Technologies by 0.9% in the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after purchasing an additional 49 shares during the period. Blossom Wealth Management increased its stake in L3Harris Technologies by 2.1% in the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after buying an additional 51 shares during the period. Parkside Financial Bank & Trust lifted its holdings in L3Harris Technologies by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after buying an additional 58 shares in the last quarter. Cassaday & Co Wealth Management LLC grew its stake in L3Harris Technologies by 3.8% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 1,622 shares of the company’s stock worth $282,000 after acquiring an additional 59 shares in the last quarter. Finally, Sky Investment Group LLC grew its stake in L3Harris Technologies by 4.2% in the 3rd quarter. Sky Investment Group LLC now owns 1,495 shares of the company’s stock worth $260,000 after acquiring an additional 60 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LHX. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a report on Monday, April 22nd. Raymond James increased their price target on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. UBS Group raised their price target on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $231.33.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director William H. Swanson bought 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,362 shares of company stock valued at $10,261,360. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX opened at $212.24 on Monday. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $218.34. The firm’s fifty day simple moving average is $210.18 and its two-hundred day simple moving average is $202.87. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $40.26 billion, a P/E ratio of 34.45, a P/E/G ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same period in the prior year, the company posted $2.86 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. Analysts forecast that L3Harris Technologies, Inc. will post 12.91 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

L3Harris Technologies Company 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.