Andrew Hill Investment Advisors Inc. Buys Shares of 1,724 L3Harris Technologies, Inc. (NYSE:LHX)

Andrew Hill Investment Advisors Inc. purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,724 shares of the company’s stock, valued at approximately $363,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kentucky Retirement Systems purchased a new stake in shares of L3Harris Technologies in the third quarter valued at $2,642,000. GDS Wealth Management raised its stake in L3Harris Technologies by 184.5% during the third quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock valued at $15,692,000 after buying an additional 58,441 shares in the last quarter. Sapient Capital LLC acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $1,198,000. Bruce G. Allen Investments LLC acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $46,000. Finally, Ceredex Value Advisors LLC raised its stake in L3Harris Technologies by 14.1% during the third quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock valued at $117,315,000 after buying an additional 83,319 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on LHX. Citigroup increased their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Royal Bank of Canada increased their price target on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Raymond James increased their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Finally, TheStreet raised L3Harris Technologies from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $229.00.

Insider Activity at L3Harris Technologies

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 shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Swanson bought 1,250 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average price of $215.35 per share, with a total value of $269,187.50. Following the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 48,362 shares of company stock worth $10,261,360. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 1.1 %

L3Harris Technologies stock traded up $2.13 during mid-day trading on Friday, hitting $204.21. 309,067 shares of the company’s stock were exchanged, compared to its average volume of 1,111,796. The stock has a market cap of $38.82 billion, a P/E ratio of 31.39, a P/E/G ratio of 1.87 and a beta of 0.65. The stock has a 50 day moving average of $210.39 and a two-hundred day moving average of $199.60. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59.

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

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

L3Harris Technologies Company 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.