Xponance Inc. Grows Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Xponance Inc. raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,963 shares of the company’s stock after acquiring an additional 1,443 shares during the quarter. Xponance Inc.’s holdings in L3Harris Technologies were worth $5,679,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in shares of L3Harris Technologies in the second quarter valued at about $30,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of L3Harris Technologies during the first quarter valued at about $27,000. First Capital Advisors Group LLC. purchased a new position in shares of L3Harris Technologies during the second quarter valued at about $29,000. KB Financial Partners LLC increased its position in shares of L3Harris Technologies by 96.5% during the third 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, Blue Trust Inc. increased its position in shares of L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 1.7 %

Shares of LHX stock opened at $205.45 on Friday. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $218.34. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $210.30 and its 200 day moving average is $199.84. The stock has a market capitalization of $39.06 billion, a P/E ratio of 31.90, a P/E/G ratio of 1.88 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last issued 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. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The company had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the company posted $3.27 earnings per share. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. Research analysts expect that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared 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. This represents a $4.64 annualized dividend and a yield of 2.26%. L3Harris Technologies’s payout ratio is presently 72.05%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price for the company in a research note on Thursday, January 11th. Citigroup raised their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $229.00.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Swanson acquired 1,250 shares of the firm’s 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 completion of the transaction, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 48,362 shares of company stock worth $10,261,360. Company insiders own 0.82% of the company’s stock.

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.