648 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by Murphy & Mullick Capital Management Corp

Murphy & Mullick Capital Management Corp purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 648 shares of the company’s stock, valued at approximately $136,000.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after purchasing an additional 401,168 shares during the period. Geode Capital Management LLC grew its stake in L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after buying an additional 59,008 shares during the last quarter. Raymond James Financial Inc. bought a new position in L3Harris Technologies in the 4th quarter valued at about $398,507,000. Charles Schwab Investment Management Inc. lifted its position in L3Harris Technologies by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock worth $254,461,000 after acquiring an additional 32,979 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of L3Harris Technologies by 20.2% during the fourth quarter. Boston Partners now owns 1,178,741 shares of the company’s stock worth $247,893,000 after acquiring an additional 198,243 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,334 shares of company stock valued at $1,383,709 in the last 90 days. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LHX has been the subject of several research reports. Truist Financial dropped their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Susquehanna decreased their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Citigroup dropped their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $261.40.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $211.97 on Thursday. 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 market capitalization of $39.79 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The stock’s 50-day simple moving average is $209.66 and its 200 day simple moving average is $225.78.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) 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%. On average, analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

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.