Gardner Lewis Asset Management L P Takes $1.21 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Gardner Lewis Asset Management L P acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,772 shares of the company’s stock, valued at approximately $1,214,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its stake in shares of L3Harris Technologies by 0.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 56,181 shares of the company’s stock valued at $11,814,000 after acquiring an additional 280 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in L3Harris Technologies in the fourth quarter worth $2,646,000. Blair William & Co. IL raised its holdings in L3Harris Technologies by 2.0% in the fourth quarter. Blair William & Co. IL now owns 30,753 shares of the company’s stock worth $6,467,000 after purchasing an additional 617 shares during the period. AssuredPartners Investment Advisors LLC bought a new position in shares of L3Harris Technologies during the fourth quarter worth $3,308,000. Finally, NEOS Investment Management LLC grew its holdings in shares of L3Harris Technologies by 30.6% in the 4th quarter. NEOS Investment Management LLC now owns 10,627 shares of the company’s stock valued at $2,235,000 after buying an additional 2,487 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction 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. The trade was a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,334 shares of company stock worth $1,383,709. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on LHX. JPMorgan Chase & Co. reduced their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Morgan Stanley cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Citigroup lowered their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Barclays cut their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $212.86 on Friday. The stock has a market capitalization of $39.96 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The stock has a 50 day moving average price of $209.55 and a 200 day moving average price of $225.69. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $1.20 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.25%. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

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.