Novem Group Buys Shares of 1,920 L3Harris Technologies, Inc. (NYSE:LHX)

Novem Group bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,920 shares of the company's stock, valued at approximately $404,000.

Other institutional investors also recently added to or reduced their stakes in the company. CSS LLC IL bought a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $315,000. Waverly Advisors LLC raised its holdings in L3Harris Technologies by 114.1% in the 4th quarter. Waverly Advisors LLC now owns 8,868 shares of the company's stock valued at $1,865,000 after acquiring an additional 4,726 shares in the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $1,088,000. Victrix Investment Advisors bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $407,000. Finally, Vident Advisory LLC increased its position in shares of L3Harris Technologies by 30.9% during the fourth quarter. Vident Advisory LLC now owns 109,263 shares of the company's stock valued at $22,976,000 after purchasing an additional 25,806 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded down $1.38 during midday trading on Friday, reaching $237.81. The company's stock had a trading volume of 2,359,028 shares, compared to its average volume of 1,071,895. The business's fifty day simple moving average is $216.98 and its 200-day simple moving average is $218.56. 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 fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a market capitalization of $44.46 billion, a P/E ratio of 30.22, a P/E/G ratio of 2.42 and a beta of 0.72.

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

L3Harris Technologies Dividend Announcement

The business 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. 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%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LHX shares. Truist Financial reduced their target price on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, April 25th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and raised their price target for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Morgan Stanley lowered their price objective on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. UBS Group raised their target price on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Finally, Wells Fargo & Company decreased their price target 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. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $256.56.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of the firm's 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 transaction, the insider now owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction dated 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 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. 0.72% of the stock is currently owned by corporate insiders.

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.