Gotham Asset Management LLC Acquires 50,735 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Gotham Asset Management LLC boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 2,501.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,763 shares of the company's stock after purchasing an additional 50,735 shares during the period. Gotham Asset Management LLC's holdings in L3Harris Technologies were worth $11,095,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Czech National Bank grew its position in shares of L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company's stock valued at $8,648,000 after acquiring an additional 2,480 shares during the period. Principal Financial Group Inc. increased its position in L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock worth $52,395,000 after buying an additional 4,321 shares during the last quarter. BankPlus Wealth Management LLC bought a new stake in L3Harris Technologies in the fourth quarter valued at approximately $409,000. Empowered Funds LLC lifted its position in shares of L3Harris Technologies by 24.3% in the fourth quarter. Empowered Funds LLC now owns 19,735 shares of the company's stock valued at $4,150,000 after buying an additional 3,852 shares during the last quarter. Finally, PFW Advisors LLC bought a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $922,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on LHX. Jefferies Financial Group cut their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. UBS Group raised 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. Truist Financial decreased their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Royal Bank of Canada restated a "sector perform" rating and set a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Finally, Wells Fargo & Company reduced their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $256.56.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded up $7.42 during trading on Thursday, hitting $227.07. 1,626,060 shares of the company were exchanged, compared to its average volume of 1,034,440. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a market capitalization of $42.45 billion, a P/E ratio of 28.85, a price-to-earnings-growth 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. The business's 50 day moving average is $214.16 and its 200-day moving average is $219.77.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter in the prior year, the firm earned $3.06 EPS. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's payout ratio is currently 56.94%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares of the company's stock, 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 owned by company 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.