111 Capital Takes $1.81 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

111 Capital purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,608 shares of the company's stock, valued at approximately $1,810,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LHX. Meeder Asset Management Inc. increased its holdings in 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 purchasing an additional 82 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in L3Harris Technologies in the fourth quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies in the fourth quarter valued at $27,000. Roxbury Financial LLC purchased a new stake in L3Harris Technologies in the fourth quarter valued at $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position 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 valued at $30,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Price Performance

Shares of LHX stock traded up $1.01 during midday trading on Friday, reaching $244.43. 2,784,686 shares of the company were exchanged, compared to its average volume of 1,099,669. 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 company's 50 day moving average price is $220.25 and its two-hundred day moving average price is $218.52. 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 $45.70 billion, a P/E ratio of 31.06, a PEG ratio of 2.42 and a beta of 0.72.

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

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.96%. L3Harris Technologies's dividend payout ratio is presently 56.94%.

Analyst Ratings Changes

LHX has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. 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 report on Tuesday, February 4th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price target for the company from $198.00 to $263.00 in a research report 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 research report on Thursday, April 10th. Finally, Truist Financial reduced their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock 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. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of "Moderate Buy" and an average price target of $256.56.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the company's stock in a transaction 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 completion of the sale, the insider now directly owns 2,797 shares of the company's stock, valued at approximately $632,122. This represents a 53.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider now directly owns 25,325 shares of the company's stock, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,961 shares of company stock worth $1,585,297. 0.72% of the stock is currently owned by company 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.