Vident Advisory LLC Grows Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Vident Advisory LLC grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 30.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,263 shares of the company's stock after acquiring an additional 25,806 shares during the period. Vident Advisory LLC owned about 0.06% of L3Harris Technologies worth $22,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of LHX. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after buying an additional 82 shares during the period. Millstone Evans Group LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $27,000. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in L3Harris Technologies by 336.4% in the 4th 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 period. Institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LHX shares. UBS Group upped 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. Jefferies Financial Group dropped their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. lowered their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. 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. Finally, The Goldman Sachs Group raised 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 report on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.56.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded up $6.93 during trading on Thursday, hitting $239.52. 3,695,846 shares of the company's stock were exchanged, compared to its average volume of 1,064,268. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a market capitalization of $44.78 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 2.42 and a beta of 0.72. The business has a 50-day simple moving average of $215.94 and a 200-day simple moving average of $219.21.

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

L3Harris Technologies Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 2.00%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the firm'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 value of $377,068.84. Following the transaction, the insider now directly owns 30,620 shares of the company's stock, valued at $6,475,517.60. This trade represents a 5.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, 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. 0.72% of the stock is currently owned by insiders.

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.