one8zero8 LLC Purchases New Position in L3Harris Technologies Inc (NYSE:LHX)

Key Points

• one8zero8 LLC has made a new investment in L3Harris Technologies Inc, purchasing 1,282 shares valued at approximately $268,000 during the first quarter.
• Analysts have forecasted an average price target of $276.53 for L3Harris, with a consensus rating of "Moderate Buy" following recent upgrades from several financial institutions.
• L3Harris Technologies has announced a quarterly dividend of $1.20 per share, representing a dividend yield of 1.78%, with payments scheduled for September 22nd.

one8zero8 LLC bought a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 1,282 shares of the company's stock, valued at approximately $268,000.

Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake 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 worth $25,000 after acquiring an additional 82 shares during the last quarter. Beacon Capital Management LLC increased its position in L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased 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 worth $30,000 after purchasing an additional 111 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in L3Harris Technologies during the fourth quarter worth $37,000. Finally, Cornerstone Planning Group LLC increased its stake in L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after acquiring an additional 139 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

LHX stock traded up $2.58 during trading on Tuesday, reaching $272.05. 931,001 shares of the company were exchanged, compared to its average volume of 1,460,461. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market cap of $50.86 billion, a P/E ratio of 30.40, a PEG ratio of 2.09 and a beta of 0.75. The stock's 50 day moving average price is $251.91 and its 200 day moving average price is $226.31. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $280.03.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.24 earnings per share. As a group, analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.76%. L3Harris Technologies's dividend payout ratio (DPR) is presently 53.63%.

Analysts Set New Price Targets

Several research firms have issued reports on LHX. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and raised their target price for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Robert W. Baird boosted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday. UBS Group reaffirmed a "neutral" rating and set a $280.00 target price (up from $262.00) on shares of L3Harris Technologies in a research note on Friday. Wells Fargo & Company dropped their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Royal Bank Of Canada increased their target price on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $279.47.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the sale, the chief executive officer directly owned 145,572 shares of the company's stock, valued at approximately $36,171,730.56. This trade represents a 18.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the transaction, the insider owned 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

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.