Css LLC Il Buys Shares of 1,500 L3Harris Technologies, Inc. (NYSE:LHX)

Css LLC Il purchased a new position in shares of 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. The institutional investor purchased 1,500 shares of the company's stock, valued at approximately $315,000.

Several other institutional investors have also recently made changes to their positions in the company. Waverly Advisors LLC grew its holdings in L3Harris Technologies by 114.1% during the 4th quarter. Waverly Advisors LLC now owns 8,868 shares of the company's stock worth $1,865,000 after acquiring an additional 4,726 shares in the last quarter. iSAM Funds UK Ltd bought a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $1,088,000. Victrix Investment Advisors purchased a new position in L3Harris Technologies during the fourth quarter valued at approximately $407,000. Vident Advisory LLC raised its stake in L3Harris Technologies by 30.9% in the fourth quarter. Vident Advisory LLC now owns 109,263 shares of the company's stock worth $22,976,000 after buying an additional 25,806 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in L3Harris Technologies by 8.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 19,009 shares of the company's stock worth $3,997,000 after buying an additional 1,552 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $239.52 on Friday. 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's fifty day moving average price is $216.48 and its 200-day moving average price is $219.16. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The firm has a market capitalization of $44.78 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating 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 the consensus estimate of $5.29 billion. During the same quarter in the previous year, the business earned $3.06 EPS. The company's quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on LHX shares. JPMorgan Chase & Co. cut their price target on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Wells Fargo & Company cut their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. 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. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of "Moderate Buy" and an average price target of $256.56.

Insiders Place Their Bets

In related news, insider Edward J. Zoiss sold 1,783 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now directly owns 30,620 shares of the company's stock, valued at $6,475,517.60. This trade represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares of the company's stock, valued at $632,122. The trade was 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.

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.

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