L3Harris Technologies, Inc. (NYSE:LHX) Position Boosted by Olstein Capital Management L.P.

Olstein Capital Management L.P. raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 30.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,500 shares of the company's stock after buying an additional 8,500 shares during the quarter. L3Harris Technologies comprises about 1.4% of Olstein Capital Management L.P.'s portfolio, making the stock its 26th biggest holding. Olstein Capital Management L.P.'s holdings in L3Harris Technologies were worth $7,640,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 234.3% in the fourth 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 period. Millstone Evans Group LLC purchased a new position in L3Harris Technologies during the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies during the fourth quarter worth about $27,000. Roxbury Financial LLC purchased a new position in L3Harris Technologies during the fourth quarter worth about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake 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 worth $30,000 after buying an additional 111 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LHX. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and increased their target price for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. UBS Group increased their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Citigroup increased their price target on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $258.75.

L3Harris Technologies Price Performance

LHX stock traded up $2.00 during trading on Wednesday, hitting $246.79. The stock had a trading volume of 1,558,529 shares, compared to its average volume of 1,109,282. The company's 50 day moving average price is $225.81 and its two-hundred day moving average price is $218.31. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The stock has a market cap of $46.14 billion, a price-to-earnings ratio of 31.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. 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 (NYSE:LHX - Get Free Report) last announced its 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 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 the consensus estimate of $5.29 billion. During the same quarter in the previous year, the company posted $3.06 EPS. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.94%. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

Insider Activity

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider now directly owns 25,325 shares of the company's stock, valued at approximately $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.72% of the company's stock.

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.