Rafferty Asset Management LLC Raises Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Rafferty Asset Management LLC raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,002 shares of the company's stock after purchasing an additional 5,079 shares during the quarter. Rafferty Asset Management LLC's holdings in L3Harris Technologies were worth $9,463,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its position in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares during the period. Millstone Evans Group LLC purchased a new stake in L3Harris Technologies in the fourth quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies in the fourth quarter valued at $27,000. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter valued at $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake 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 worth $30,000 after purchasing an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. 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, April 28th. JPMorgan Chase & Co. lowered their price objective on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Morgan Stanley lowered their price objective on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. 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 report on Tuesday, February 4th. Finally, Truist Financial lowered their price objective 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. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average price target of $256.56.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the 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 of the company's stock, valued at approximately $632,122. This represents a 53.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was 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 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. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded down $0.17 on Tuesday, hitting $230.80. The stock had a trading volume of 1,043,120 shares, compared to its average volume of 1,044,071. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a market cap of $43.15 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 2.42 and a beta of 0.72. The company's 50 day moving average price is $215.12 and its 200 day moving average price is $219.03.

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

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders 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 yield of 2.08%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is presently 56.94%.

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.