Nebula Research & Development LLC Makes New $1.77 Million Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Nebula Research & Development LLC acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,430 shares of the company's stock, valued at approximately $1,773,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Czech National Bank lifted its position in L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company's stock worth $8,648,000 after purchasing an additional 2,480 shares during the period. JPMorgan Chase & Co. raised its stake in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock worth $184,245,000 after acquiring an additional 178,407 shares in the last quarter. Principal Financial Group Inc. raised its stake 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 acquiring an additional 4,321 shares in the last quarter. Oliver Luxxe Assets LLC acquired a new position in L3Harris Technologies during the fourth quarter worth about $3,954,000. Finally, BankPlus Wealth Management LLC acquired a new position in L3Harris Technologies during the fourth quarter worth about $409,000. Institutional investors own 84.76% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on LHX shares. UBS Group boosted their target price on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research note on Monday. Barclays lowered their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and lowered their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Bank of America lowered their price objective on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Finally, Citigroup decreased their target price on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus price target of $256.56.

L3Harris Technologies Stock Down 0.5 %

Shares of L3Harris Technologies stock traded down $1.07 during trading hours on Wednesday, reaching $220.16. The company's stock had a trading volume of 705,807 shares, compared to its average volume of 1,014,322. The company has a market capitalization of $41.33 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.42 and a beta of 0.71. The stock's fifty day simple moving average is $211.56 and its two-hundred day simple moving average is $221.77. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year 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.

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

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of the business's 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 transaction, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the transaction, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

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.