AssuredPartners Investment Advisors LLC Buys New Shares in L3Harris Technologies, Inc. (NYSE:LHX)

AssuredPartners Investment Advisors LLC purchased a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, Holdings Channel reports. The firm purchased 15,729 shares of the company’s stock, valued at approximately $3,308,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LHX. Millstone Evans Group LLC acquired a new stake in L3Harris Technologies during the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $27,000. Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $30,000. Union Bancaire Privee UBP SA bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $33,000. Finally, New Millennium Group LLC lifted its position in L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after purchasing an additional 163 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now directly owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,334 shares of company stock worth $1,383,709 over the last 90 days. 0.72% of the stock is owned by insiders.

L3Harris Technologies Stock Down 0.3 %

Shares of NYSE LHX opened at $211.97 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 company has a market cap of $39.79 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth 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 firm’s 50-day simple moving average is $209.66 and its 200 day simple moving average is $225.78.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research 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 announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $1.20 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LHX shares. UBS Group boosted their price target 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 research note on Monday, February 10th. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

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.