5,689 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by Sapient Capital LLC

Sapient Capital LLC bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,689 shares of the company’s stock, valued at approximately $1,198,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LHX. Cross Staff Investments Inc increased its stake in shares of L3Harris Technologies by 12.4% in the fourth quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock worth $302,000 after purchasing an additional 158 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter worth $46,000. BKM Wealth Management LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter worth $1,125,000. South Dakota Investment Council increased its position in L3Harris Technologies by 43.2% during the third quarter. South Dakota Investment Council now owns 39,368 shares of the company’s stock worth $6,855,000 after acquiring an additional 11,879 shares during the period. Finally, Horrell Capital Management Inc. acquired a new position in L3Harris Technologies during the 3rd quarter valued at $5,072,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the topic of several research reports. Raymond James boosted their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. UBS Group raised their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Citigroup boosted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.33.

Insider Buying and Selling

In other news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the sale, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director William H. Swanson bought 1,250 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares in the company, valued at approximately $332,285.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Insiders have sold a total of 48,362 shares of company stock worth $10,261,360 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded up $0.90 during trading hours on Friday, hitting $212.24. 790,904 shares of the stock were exchanged, compared to its average volume of 1,043,142. The stock has a market capitalization of $40.26 billion, a P/E ratio of 34.45, a P/E/G ratio of 1.88 and a beta of 0.63. The business’s 50-day moving average is $210.18 and its two-hundred day moving average is $202.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same period in the prior year, the company earned $2.86 EPS. L3Harris Technologies’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts expect that L3Harris Technologies, Inc. will post 12.91 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.19%. L3Harris Technologies’s dividend payout ratio is 75.32%.

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.