Sherbrooke Park Advisers LLC Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Sherbrooke Park Advisers LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,785 shares of the company’s stock, valued at approximately $375,000.

Other institutional investors have also modified their holdings of the company. BankPlus Wealth Management LLC acquired a new position in L3Harris Technologies during the fourth quarter worth approximately $409,000. Empowered Funds LLC increased its position in L3Harris Technologies by 24.3% during the fourth quarter. Empowered Funds LLC now owns 19,735 shares of the company’s stock worth $4,150,000 after purchasing an additional 3,852 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in L3Harris Technologies by 51.9% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,320 shares of the company’s stock worth $3,011,000 after purchasing an additional 4,890 shares during the last quarter. Private Capital Advisors Inc. increased its position in L3Harris Technologies by 82.6% during the fourth quarter. Private Capital Advisors Inc. now owns 7,120 shares of the company’s stock worth $1,497,000 after purchasing an additional 3,220 shares during the last quarter. Finally, Novare Capital Management LLC grew its stake in L3Harris Technologies by 6.2% during the fourth quarter. Novare Capital Management LLC now owns 45,934 shares of the company’s stock worth $9,659,000 after buying an additional 2,688 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Jefferies Financial Group decreased their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Bank of America decreased their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Citigroup decreased their price objective on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. decreased their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $256.56.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction 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 approximately $6,475,517.60. This represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $230.42 on Monday. The company has a market capitalization of $43.08 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The firm has a fifty day simple moving average of $214.69 and a 200-day simple moving average of $219.15. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the prior year, the firm posted $3.06 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.08%. L3Harris Technologies’s dividend payout ratio (DPR) is 56.94%.

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.