Jefferies Financial Group Inc. Makes New $232,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Jefferies Financial Group Inc. acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,104 shares of the company's stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. increased 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 period. Millstone Evans Group LLC purchased a new position in L3Harris Technologies during 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 shares of L3Harris Technologies in the fourth quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of 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 buying an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research reports. Wells Fargo & Company lowered their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Bank of America lowered their target price on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Jefferies Financial Group dropped their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Truist Financial decreased their price target on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, UBS Group boosted their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $256.56.

L3Harris Technologies Trading Down 0.6%

Shares of L3Harris Technologies stock traded down $1.38 during mid-day trading on Friday, hitting $237.81. 2,359,028 shares of the stock were exchanged, compared to its average volume of 1,069,314. The stock has a market capitalization of $44.46 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $216.98 and a 200 day simple moving average of $219.07.

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

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies 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 completion of the sale, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the business'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 transaction of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. The trade was a 5.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

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.