Victory Capital Management Inc. Buys 30,358 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Victory Capital Management Inc. raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 40.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 106,231 shares of the company’s stock after acquiring an additional 30,358 shares during the quarter. Victory Capital Management Inc.’s holdings in L3Harris Technologies were worth $22,374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cross Staff Investments Inc boosted its position in shares of L3Harris Technologies by 12.4% during the fourth quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock valued at $302,000 after purchasing an additional 158 shares in the last quarter. Sapient Capital LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter worth about $1,198,000. Bruce G. Allen Investments LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth about $46,000. BKM Wealth Management LLC purchased a new position in L3Harris Technologies during the 4th quarter valued at about $1,125,000. Finally, South Dakota Investment Council boosted its stake in L3Harris Technologies by 43.2% during the third quarter. South Dakota Investment Council now owns 39,368 shares of the company’s stock worth $6,855,000 after acquiring an additional 11,879 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LHX shares. Wells Fargo & Company raised their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada lifted their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Barclays lifted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Finally, UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $231.80.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, Director William H. Swanson acquired 1,250 shares of the stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at approximately $12,376,393.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 in the last three months. 0.87% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Down 0.0 %

LHX opened at $215.88 on Thursday. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average price of $210.32 and a 200-day moving average price of $203.41. The stock has a market capitalization of $40.95 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.86 EPS. Equities research analysts forecast that L3Harris Technologies, Inc. will post 12.91 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 annualized dividend and a yield of 2.15%. L3Harris Technologies’s payout ratio is 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.