Sherbrooke Park Advisers LLC Takes $375,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Sherbrooke Park Advisers LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,785 shares of the company's stock, valued at approximately $375,000.

Other institutional investors 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 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 in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter valued at $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies during the 4th quarter valued at $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in L3Harris Technologies by 336.4% during the 4th 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.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now directly owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. This represents a 5.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LHX shares. Citigroup lowered their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. lowered their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Morgan Stanley lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Truist Financial lowered their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Wells Fargo & Company lowered their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $256.56.

L3Harris Technologies Stock Down 0.6%

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 firm has a 50 day moving average of $216.98 and a 200-day moving average of $218.81. The firm has a market capitalization of $44.46 billion, a P/E ratio of 30.22, a PEG ratio of 2.42 and a beta of 0.72. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share 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 the consensus estimate of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The company's revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.06 EPS. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced 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 of this dividend is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is presently 56.94%.

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.