Enhancing Capital LLC Purchases Shares of 4,044 L3Harris Technologies, Inc. (NYSE:LHX)

Enhancing Capital LLC acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,044 shares of the company’s stock, valued at approximately $850,000.

A number of other institutional investors also recently modified their holdings of LHX. Fortem Financial Group LLC acquired a new position in L3Harris Technologies in the third quarter worth $841,000. Czech National Bank lifted its position in L3Harris Technologies by 6.4% during the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after buying an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after acquiring an additional 178,407 shares during the last quarter. Principal Financial Group Inc. increased its position in L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after acquiring an additional 4,321 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its position in shares of L3Harris Technologies by 13.9% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $7,602,000 after purchasing an additional 3,740 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of a number of research reports. Morgan Stanley lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Barclays dropped their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Truist Financial dropped their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Susquehanna reduced their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $261.40.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $212.93 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The firm has a fifty day moving average of $209.44 and a 200-day moving average of $226.84. The firm has a market capitalization of $39.97 billion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74.

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

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a $1.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a yield of 2.25%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is presently 60.99%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. This trade represents a 53.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the transaction, the insider now directly owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,098 shares of company stock valued at $1,760,588. 0.82% of the stock is currently owned by corporate insiders.

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.