Ion Asset Management Ltd. Has $703,000 Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Ion Asset Management Ltd. boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 11.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,345 shares of the company’s stock after acquiring an additional 345 shares during the quarter. Ion Asset Management Ltd.’s holdings in L3Harris Technologies were worth $703,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Morse Asset Management Inc bought a new stake in shares of L3Harris Technologies in the third quarter worth $119,000. World Investment Advisors LLC lifted its position in L3Harris Technologies by 220.3% during the 3rd quarter. World Investment Advisors LLC now owns 32,580 shares of the company’s stock worth $7,750,000 after buying an additional 22,407 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of L3Harris Technologies during the 3rd quarter worth about $1,704,000. Synovus Financial Corp grew its holdings in shares of L3Harris Technologies by 17.5% in the 3rd quarter. Synovus Financial Corp now owns 6,734 shares of the company’s stock valued at $1,602,000 after acquiring an additional 1,003 shares in the last quarter. Finally, Peapack Gladstone Financial Corp raised its holdings in L3Harris Technologies by 0.5% during the third quarter. Peapack Gladstone Financial Corp now owns 41,577 shares of the company’s stock worth $9,890,000 after acquiring an additional 194 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LHX shares. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Jefferies Financial Group lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Morgan Stanley lowered their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, UBS Group upped their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.56.

L3Harris Technologies Trading Up 1.3 %

Shares of L3Harris Technologies stock opened at $218.98 on Tuesday. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The stock has a market cap of $41.11 billion, a PE ratio of 27.82, a PEG ratio of 2.42 and a beta of 0.71. The firm has a 50-day moving average of $211.07 and a 200-day moving average of $221.77. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $3.06 earnings per share. As a group, sell-side analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is currently 56.94%.

Insider Buying and Selling

In other news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

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.