5,330 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Bought by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,330 shares of the company’s stock, valued at approximately $1,121,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. lifted its position in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after purchasing an additional 82 shares during the last quarter. Millstone Evans Group LLC bought a new position in L3Harris Technologies in the 4th quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $27,000. Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after acquiring an additional 111 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on LHX shares. Morgan Stanley cut their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Bank of America cut their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Jefferies Financial Group lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $256.56.

Insider Transactions at L3Harris Technologies

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

L3Harris Technologies Trading Down 0.2%

Shares of LHX stock opened at $218.44 on Wednesday. The company has a market capitalization of $40.84 billion, a P/E ratio of 27.76, a P/E/G ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $214.18 and a 200 day moving average price of $219.78.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion during 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%. L3Harris Technologies’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.06 earnings per share. Research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is currently 56.94%.

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.