Smartleaf Asset Management LLC Purchases 162 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Smartleaf Asset Management LLC lifted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 14.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,317 shares of the company’s stock after buying an additional 162 shares during the period. Smartleaf Asset Management LLC’s holdings in L3Harris Technologies were worth $275,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LHX. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies during the 4th quarter valued at about $27,000. Roxbury Financial LLC purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $30,000. Archer Investment Corp raised its holdings in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in L3Harris Technologies during the fourth quarter valued at approximately $33,000. Finally, Kennebec Savings Bank purchased a new stake in L3Harris Technologies in the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 4,901 shares of company stock worth $1,059,757. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Trading Up 1.8 %

LHX stock opened at $210.84 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The business has a 50 day simple moving average of $208.77 and a two-hundred day simple moving average of $227.82. The company has a market capitalization of $39.70 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.28%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s payout ratio is 60.99%.

Analysts Set New Price Targets

A number of brokerages have weighed in on LHX. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $300.00 to $269.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Barclays cut their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Finally, Susquehanna cut their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $261.47.

L3Harris Technologies Company 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.