18,620 Shares in L3Harris Technologies Inc $LHX Bought by Reliant Investment Management LLC

Reliant Investment Management LLC bought a new stake in L3Harris Technologies Inc (NYSE:LHX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,620 shares of the company’s stock, valued at approximately $5,466,000. L3Harris Technologies comprises approximately 2.2% of Reliant Investment Management LLC’s holdings, making the stock its 27th biggest holding.

A number of other institutional investors also recently bought and sold shares of LHX. Caitlin John LLC acquired a new position in shares of L3Harris Technologies during the 3rd quarter worth about $28,000. American National Bank & Trust raised its position in shares of L3Harris Technologies by 44.8% during the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after acquiring an additional 30 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of L3Harris Technologies during the 3rd quarter worth about $29,000. Triumph Capital Management purchased a new stake in L3Harris Technologies during the third quarter worth approximately $31,000. Finally, GGM Financials LLC acquired a new position in L3Harris Technologies in the third quarter valued at approximately $32,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 0.2%

LHX opened at $356.78 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. L3Harris Technologies Inc has a 52 week low of $195.72 and a 52 week high of $379.23. The business’s 50 day moving average is $354.30 and its two-hundred day moving average is $317.00. The firm has a market cap of $66.64 billion, a price-to-earnings ratio of 41.83, a price-to-earnings-growth ratio of 2.57 and a beta of 0.62.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.10. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.47 earnings per share. On average, research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio (DPR) is currently 58.62%.

Analyst Ratings Changes

Several equities analysts have commented on LHX shares. Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, January 30th. Vertical Research restated a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a report on Tuesday, January 13th. Citigroup increased their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Royal Bank Of Canada lifted their price target on shares of L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Finally, Wall Street Zen cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $334.62.

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 751 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $278,110.32. Following the transaction, the vice president directly owned 4,131 shares of the company’s stock, valued at approximately $1,529,791.92. This trade represents a 15.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Samir Mehta sold 5,528 shares of L3Harris Technologies stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the transaction, the insider owned 7,756 shares in the company, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,025 shares of company stock worth $6,824,370 in the last 90 days. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.