Allstate Corp Takes $1.17 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Allstate Corp bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, HoldingsChannel reports. The firm bought 5,561 shares of the company’s stock, valued at approximately $1,169,000.

Several other hedge funds have also recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC increased its position in shares of L3Harris Technologies by 5.5% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock worth $200,000 after acquiring an additional 50 shares in the last quarter. Premier Path Wealth Partners LLC increased its holdings in L3Harris Technologies by 3.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock worth $328,000 after purchasing an additional 51 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of L3Harris Technologies by 2.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock valued at $514,000 after purchasing an additional 53 shares during the period. Klingman & Associates LLC lifted its holdings in shares of L3Harris Technologies by 2.8% in the fourth quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock valued at $406,000 after purchasing an additional 53 shares in the last quarter. Finally, Zullo Investment Group Inc. boosted its position in shares of L3Harris Technologies by 3.2% during the fourth quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company’s stock worth $361,000 after buying an additional 54 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LHX shares. Barclays decreased their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Morgan Stanley lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Susquehanna decreased their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $261.40.

L3Harris Technologies Trading Down 2.5 %

Shares of LHX stock opened at $207.46 on Monday. The stock has a market capitalization of $38.94 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.42 and a beta of 0.74. The company’s fifty day simple moving average is $209.34 and its two-hundred day simple moving average is $225.51. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, analysts anticipate 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 was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a $1.20 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.31%. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Insider Activity

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Company 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.