Vista Investment Partners LLC Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Vista Investment Partners LLC bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,463 shares of the company's stock, valued at approximately $516,000.

Several other large investors have also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in L3Harris Technologies during the fourth quarter valued at $398,507,000. Invesco Ltd. boosted its stake in shares of L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after purchasing an additional 522,861 shares during the period. GAMMA Investing LLC boosted its stake in shares of L3Harris Technologies by 18,295.3% during the 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock worth $107,424,000 after purchasing an additional 510,438 shares during the period. Vanguard Group Inc. grew its holdings in L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after purchasing an additional 401,168 shares during the last quarter. Finally, Deutsche Bank AG raised its position in L3Harris Technologies by 64.2% in the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock worth $155,691,000 after purchasing an additional 289,514 shares during the period. Institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent analyst reports. Truist Financial dropped 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. Wells Fargo & Company cut their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Citigroup lifted their target price on L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Jefferies Financial Group cut their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. 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 research note on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $258.75.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $247.52 on Tuesday. The firm has a 50 day moving average of $228.89 and a 200 day moving average of $218.09. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $46.27 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.29 billion. During the same period in the previous year, the company posted $3.06 EPS. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Insider Activity

In related news, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 25,325 shares in the company, valued at $6,204,625. The trade was a 7.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.

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