Stanley Laman Group Ltd. Raises Position in L3Harris Technologies, Inc. (NYSE:LHX)

Stanley Laman Group Ltd. grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 8.6% during the fourth quarter, Holdings Channel reports. The fund owned 17,362 shares of the company’s stock after purchasing an additional 1,375 shares during the period. Stanley Laman Group Ltd.’s holdings in L3Harris Technologies were worth $3,657,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LHX. GDS Wealth Management raised its holdings in L3Harris Technologies by 184.5% in the third quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock worth $15,692,000 after purchasing an additional 58,441 shares in the last quarter. Sapient Capital LLC bought a new position in L3Harris Technologies in the 4th quarter worth about $1,198,000. Bruce G. Allen Investments LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $46,000. Ceredex Value Advisors LLC boosted its holdings in shares of L3Harris Technologies by 14.1% in the third quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock worth $117,315,000 after buying an additional 83,319 shares during the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth $1,125,000. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a report on Monday. Wells Fargo & Company reduced their price objective 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. Royal Bank of Canada upped their target price on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Citigroup lifted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $229.60.

Insiders Place Their Bets

In related news, insider Edward J. Zoiss sold 3,707 shares of L3Harris Technologies stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the sale, the insider now directly owns 28,644 shares in the company, valued at $6,057,346.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the transaction, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William H. Swanson acquired 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 48,362 shares of company stock worth $10,261,360. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Trading Down 0.2 %

Shares of NYSE:LHX traded down $0.35 during trading hours on Thursday, hitting $207.36. 1,163,212 shares of the company’s stock traded hands, compared to its average volume of 1,113,452. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. The business has a fifty day moving average price of $210.11 and a 200-day moving average price of $201.04. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $218.34. The firm has a market capitalization of $39.42 billion, a P/E ratio of 32.20, a price-to-earnings-growth ratio of 1.93 and a beta of 0.65.

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

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

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.