L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Dakota Wealth Management

Dakota Wealth Management increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,696 shares of the company’s stock after buying an additional 270 shares during the quarter. Dakota Wealth Management’s holdings in L3Harris Technologies were worth $5,201,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Kentucky Retirement Systems acquired a new stake in shares of L3Harris Technologies in the third quarter valued at about $2,642,000. GDS Wealth Management boosted its holdings in L3Harris Technologies by 184.5% in the third quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock valued at $15,692,000 after purchasing an additional 58,441 shares during the last quarter. Sapient Capital LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at about $1,198,000. Bruce G. Allen Investments LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at about $46,000. Finally, Ceredex Value Advisors LLC boosted its holdings in L3Harris Technologies by 14.1% in the third quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock valued at $117,315,000 after purchasing an additional 83,319 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Scott T. Mikuen sold 3,363 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $212.86, for a total value of $715,848.18. Following the transaction, the senior vice president now owns 55,254 shares in the company, valued at $11,761,366.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,362 shares of company stock valued at $10,261,360. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $203.22 on Tuesday. The stock has a market capitalization of $38.63 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 1.88 and a beta of 0.65. The stock’s fifty day simple moving average is $210.84 and its 200 day simple moving average is $199.39. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.31 by $0.04. The business had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.27 earnings per share. As a group, sell-side analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $1.16 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $4.64 dividend on an annualized basis and a yield of 2.28%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target for the company in a report on Thursday, January 11th. TheStreet raised L3Harris Technologies from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Wells Fargo & Company reduced their price target on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. Raymond James increased their target price on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Royal Bank of Canada increased their target price on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $229.00.

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.