L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 30.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,627 shares of the company’s stock after acquiring an additional 2,487 shares during the period. NEOS Investment Management LLC’s holdings in L3Harris Technologies were worth $2,235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in LHX. Millstone Evans Group LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies during the 4th quarter valued at $27,000. Roxbury Financial LLC purchased a new position in L3Harris Technologies during the fourth quarter worth $30,000. Union Bancaire Privee UBP SA acquired a new position in shares of L3Harris Technologies in the fourth quarter worth $33,000. Finally, New Millennium Group LLC lifted its position in shares of L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after acquiring an additional 163 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,334 shares of company stock worth $1,383,709. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LHX has been the subject of several analyst reports. Bank of America cut their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Susquehanna lowered their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. UBS Group increased their price target on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

L3Harris Technologies Trading Down 2.5 %

NYSE LHX opened at $207.46 on Friday. The firm has a market capitalization of $38.94 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.42 and a beta of 0.74. 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, Inc. has a one year low of $193.09 and a one year high of $265.74. The company’s 50 day moving average price is $209.34 and its 200 day moving average price is $225.54.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $1.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.31%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

L3Harris Technologies 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.