Simplicity Solutions LLC Purchases 502 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Simplicity Solutions LLC grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 23.1% in the fourth quarter, Holdings Channel reports. The fund owned 2,677 shares of the company’s stock after buying an additional 502 shares during the quarter. Simplicity Solutions LLC’s holdings in L3Harris Technologies were worth $564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LHX. Cowa LLC bought a new position in shares of L3Harris Technologies during the 1st quarter valued at approximately $26,000. Mascoma Wealth Management LLC bought a new position in shares of L3Harris Technologies during the 3rd quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of L3Harris Technologies during the 1st quarter valued at approximately $27,000. KB Financial Partners LLC raised its holdings in L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after buying an additional 82 shares during the period. Finally, First Capital Advisors Group LLC. purchased a new stake in L3Harris Technologies during the 2nd quarter valued at $29,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

LHX stock opened at $201.40 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $210.54 and its two-hundred day simple moving average is $199.59. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The firm has a market cap of $38.29 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 1.89 and a beta of 0.65.

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

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $4.64 annualized dividend and a dividend yield of 2.30%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s dividend payout ratio (DPR) is currently 72.05%.

Analyst Ratings Changes

LHX has been the topic of several recent research reports. Raymond James increased their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” 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 company a “buy” rating in a report on Tuesday, February 13th. Wells Fargo & Company decreased their price target on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Royal Bank of Canada increased their price target on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, TheStreet upgraded L3Harris Technologies from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $229.00.

Insider Activity at L3Harris Technologies

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

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.