Victrix Investment Advisors Invests $407,000 in L3Harris Technologies, Inc. (NYSE:LHX)

Victrix Investment Advisors acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,938 shares of the company's stock, valued at approximately $407,000.

Other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. boosted its position in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after purchasing an additional 82 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after purchasing an additional 111 shares during the period. Institutional investors own 84.76% of the company's stock.

Insider Buying and Selling at L3Harris Technologies

In other 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 completion of the transaction, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial dropped 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. Royal Bank of Canada restated a "sector perform" rating and issued a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price target for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Morgan Stanley dropped their target price on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Finally, Jefferies Financial Group reduced their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Five investment 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 has an average rating of "Moderate Buy" and a consensus target price of $256.56.

L3Harris Technologies Stock Performance

NYSE LHX traded up $6.93 on Thursday, hitting $239.52. 3,695,846 shares of the stock traded hands, compared to its average volume of 1,064,268. The firm has a market capitalization of $44.78 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 2.42 and a beta of 0.72. The business's fifty day moving average is $215.94 and its two-hundred day moving average is $219.21. 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, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.06 EPS. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.00%. L3Harris Technologies's dividend payout ratio is 56.94%.

L3Harris Technologies 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.