Aspire Growth Partners LLC Acquires New Position in L3Harris Technologies, Inc. (NYSE:LHX)

Aspire Growth Partners LLC purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,608 shares of the company's stock, valued at approximately $548,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. increased its stake in shares of L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after buying an additional 82 shares during the period. Millstone Evans Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $27,000. Roxbury Financial LLC purchased a new position in L3Harris Technologies during the fourth quarter valued at approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after buying an additional 111 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded down $2.22 during midday trading on Tuesday, reaching $216.40. The company had a trading volume of 1,227,456 shares, compared to its average volume of 1,020,421. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company has a market capitalization of $40.46 billion, a P/E ratio of 27.50, a P/E/G ratio of 2.42 and a beta of 0.72. The firm's fifty day simple moving average is $213.02 and its 200-day simple moving average is $220.80.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period last year, the company earned $3.06 EPS. The company's quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group dropped their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price target for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup decreased their price target on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. dropped their price target on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $256.56.

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.