Ingalls & Snyder LLC Takes $242,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Ingalls & Snyder LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,149 shares of the company’s stock, valued at approximately $242,000.

Other hedge funds have also modified their holdings of the company. Cowa LLC acquired a new stake in L3Harris Technologies during the first quarter worth about $26,000. Mascoma Wealth Management LLC acquired a new stake in L3Harris Technologies during the third quarter worth about $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in L3Harris Technologies during the first quarter worth about $27,000. KB Financial Partners LLC grew its holdings in L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares during the period. Finally, First Capital Advisors Group LLC. acquired a new stake in L3Harris Technologies during the second quarter worth about $29,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on LHX. UBS Group raised their target price on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Citigroup increased their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Wells Fargo & Company lowered their price target on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. TheStreet upgraded L3Harris Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Finally, JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target on the stock in a research report on Thursday, January 11th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 3,707 shares of L3Harris Technologies stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 over the last quarter. 0.87% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $202.62 on Monday. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The company has a market cap of $38.52 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 1.88 and a beta of 0.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. The business’s 50 day moving average price is $210.92 and its 200 day moving average price is $199.17.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.04. The company had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.27 earnings per share. On average, research analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $1.16 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date was Thursday, March 7th. This represents a $4.64 annualized dividend and a yield of 2.29%. L3Harris Technologies’s dividend payout ratio (DPR) is 72.05%.

About L3Harris Technologies

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.