Bridgefront Capital LLC Takes $577,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Bridgefront Capital LLC acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 2,744 shares of the company's stock, valued at approximately $577,000.

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

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded up $0.76 during midday trading on Friday, hitting $219.15. The company's stock had a trading volume of 983,125 shares, compared to its average volume of 1,025,339. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a market cap of $40.97 billion, a P/E ratio of 27.85, a price-to-earnings-growth 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. The business's 50 day simple moving average is $213.93 and its 200 day simple moving average is $220.19.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. During the same period in the previous year, the firm posted $3.06 EPS. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. On average, analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction 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 sale, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % 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 Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares of the company's stock, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on LHX. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price objective for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Citigroup lowered their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Bank of America cut their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Jefferies Financial Group lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, UBS Group lifted their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average 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.