iSAM Funds UK Ltd Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

iSAM Funds UK Ltd acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,173 shares of the company's stock, valued at approximately $1,088,000. L3Harris Technologies accounts for about 0.8% of iSAM Funds UK Ltd's portfolio, making the stock its 24th largest position.

Several other hedge funds have also modified their holdings of the stock. Meeder Asset Management Inc. boosted 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 purchasing an additional 82 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter worth $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies in the fourth quarter valued at $27,000. Roxbury Financial LLC purchased a new stake in L3Harris Technologies during the fourth quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in L3Harris Technologies by 336.4% during 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 period. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Up 0.3%

Shares of L3Harris Technologies stock opened at $230.96 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The business has a 50-day moving average of $215.12 and a 200-day moving average of $219.03. The company has a market capitalization of $43.18 billion, a PE ratio of 29.35, a P/E/G ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating 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 firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same quarter last year, the firm earned $3.06 EPS. L3Harris Technologies's quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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 issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.08%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Insiders Place Their Bets

In other news, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wells Fargo & Company cut their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada reissued a "sector perform" rating and set a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. UBS Group lifted their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. decreased their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Finally, Bank of America dropped their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $256.56.

About L3Harris Technologies

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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