Moment Partners LLC Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Moment Partners LLC purchased a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,441 shares of the company’s stock, valued at approximately $513,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LHX. Quest Partners LLC boosted its position in L3Harris Technologies by 36,000.0% during the 3rd quarter. Quest Partners LLC now owns 361 shares of the company’s stock valued at $86,000 after acquiring an additional 360 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in L3Harris Technologies by 7.7% during the third quarter. Kingsview Wealth Management LLC now owns 4,292 shares of the company’s stock valued at $1,021,000 after purchasing an additional 306 shares in the last quarter. Penserra Capital Management LLC grew its stake in L3Harris Technologies by 1.9% in the third quarter. Penserra Capital Management LLC now owns 3,445 shares of the company’s stock valued at $818,000 after purchasing an additional 63 shares during the last quarter. Fisher Asset Management LLC raised its holdings in L3Harris Technologies by 16.5% in the third quarter. Fisher Asset Management LLC now owns 1,555 shares of the company’s stock worth $370,000 after purchasing an additional 220 shares in the last quarter. Finally, DRW Securities LLC purchased a new stake in shares of L3Harris Technologies during the third quarter valued at about $426,000. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LHX shares. Truist Financial cut their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Susquehanna reduced their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. 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. Finally, Morgan Stanley dropped their price target on 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. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $261.40.

L3Harris Technologies Price Performance

Shares of LHX opened at $211.97 on Thursday. The business’s 50-day moving average is $209.66 and its two-hundred day moving average is $225.78. The company has a market capitalization of $39.79 billion, a P/E ratio of 26.93, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. 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 quarterly 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 return on equity of 13.11% and a net margin of 7.04%. Research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

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

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,334 shares of company stock worth $1,383,709. 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.