Boothbay Fund Management LLC Makes New $907,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Boothbay Fund Management LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,315 shares of the company's stock, valued at approximately $907,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Czech National Bank increased its holdings in shares of L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company's stock worth $8,648,000 after acquiring an additional 2,480 shares during the period. JPMorgan Chase & Co. grew its position in L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock worth $184,245,000 after purchasing an additional 178,407 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock valued at $52,395,000 after purchasing an additional 4,321 shares during the period. Oliver Luxxe Assets LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $3,954,000. Finally, BankPlus Wealth Management LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $409,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Jefferies Financial Group lowered their target price 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. Barclays lowered their price target on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Susquehanna reduced their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Bank of America lowered their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Finally, Truist Financial reduced their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.56.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded down $0.36 during trading on Monday, hitting $219.39. The company had a trading volume of 197,720 shares, compared to its average volume of 1,418,109. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The business's 50-day moving average is $212.69 and its 200 day moving average is $221.01. The company has a market cap of $41.01 billion, a P/E ratio of 27.89, a PEG ratio of 2.42 and a beta of 0.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results 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 company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the previous year, the firm earned $3.06 earnings per share. L3Harris Technologies's revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.19%. L3Harris Technologies's payout ratio is currently 56.94%.

Insider Activity at L3Harris Technologies

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 shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company's stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

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.