Millstone Evans Group LLC Invests $26,000 in L3Harris Technologies, Inc. (NYSE:LHX)

Millstone Evans Group LLC purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 124 shares of the company’s stock, valued at approximately $26,000.

Several other institutional investors also recently bought and sold shares of the company. Adams Diversified Equity Fund Inc. purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $17,453,000. Independent Solutions Wealth Management LLC boosted its stake in L3Harris Technologies by 11.6% during the 4th quarter. Independent Solutions Wealth Management LLC now owns 1,175 shares of the company’s stock worth $247,000 after purchasing an additional 122 shares during the last quarter. Magnetar Financial LLC grew its holdings in shares of L3Harris Technologies by 21.6% during the fourth quarter. Magnetar Financial LLC now owns 29,211 shares of the company’s stock worth $6,142,000 after buying an additional 5,187 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of L3Harris Technologies by 235.2% in the fourth quarter. Teacher Retirement System of Texas now owns 11,190 shares of the company’s stock valued at $2,353,000 after buying an additional 7,852 shares during the last quarter. Finally, Sandy Spring Bank lifted its stake in shares of L3Harris Technologies by 1.6% in the fourth quarter. Sandy Spring Bank now owns 20,624 shares of the company’s stock worth $4,337,000 after buying an additional 315 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $210.88 on Tuesday. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The company has a 50 day moving average price of $209.74 and a 200 day moving average price of $225.98. The stock has a market capitalization of $39.59 billion, a P/E ratio of 26.80, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Equities research analysts forecast 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 21st. Shareholders of record on Monday, March 10th were paid a dividend of $1.20 per share. The ex-dividend date was Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.28%. L3Harris Technologies’s dividend payout ratio is 60.99%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LHX shares. UBS Group upped their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Susquehanna dropped their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $261.40.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,334 shares of company stock valued at $1,383,709. 0.72% 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.