Summit Global Investments Purchases New Position in L3Harris Technologies, Inc. (NYSE:LHX)

Summit Global Investments acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,891 shares of the company’s stock, valued at approximately $398,000.

A number of other institutional investors also recently made changes to their positions in LHX. KB Financial Partners LLC boosted its stake in L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. New England Capital Financial Advisors LLC bought a new stake in shares of L3Harris Technologies in the third quarter valued at about $35,000. Blue Trust Inc. increased its position in L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares during the period. Washington Trust Advisors Inc. raised its stake in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in L3Harris Technologies in the 4th quarter worth about $46,000. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other news, Director William H. Swanson acquired 1,250 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other L3Harris Technologies news, Director William H. Swanson acquired 1,250 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, with a total value of $269,187.50. Following the acquisition, the director now owns 1,543 shares in the company, valued at $332,285.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the sale, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,362 shares of company stock valued at $10,261,360. Company insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on LHX shares. Citigroup raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Barclays boosted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Raymond James increased their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $231.33.

L3Harris Technologies Trading Up 0.4 %

NYSE:LHX opened at $212.24 on Monday. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The firm has a 50-day moving average price of $210.18 and a two-hundred day moving average price of $202.87. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The firm has a market cap of $40.26 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same period last year, the business posted $2.86 earnings per share. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. On average, equities analysts expect that L3Harris Technologies, Inc. will post 12.91 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 Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.19%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.