Freedom Investment Management Inc. Increases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Freedom Investment Management Inc. increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,980 shares of the company’s stock after purchasing an additional 66 shares during the quarter. Freedom Investment Management Inc.’s holdings in L3Harris Technologies were worth $837,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LHX. Morse Asset Management Inc bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth about $119,000. World Investment Advisors LLC lifted its stake in L3Harris Technologies by 220.3% in the third quarter. World Investment Advisors LLC now owns 32,580 shares of the company’s stock worth $7,750,000 after purchasing an additional 22,407 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of L3Harris Technologies during the third quarter valued at approximately $1,704,000. Synovus Financial Corp grew its stake in shares of L3Harris Technologies by 17.5% during the third quarter. Synovus Financial Corp now owns 6,734 shares of the company’s stock valued at $1,602,000 after buying an additional 1,003 shares during the last quarter. Finally, Peapack Gladstone Financial Corp raised its holdings in shares of L3Harris Technologies by 0.5% in the third quarter. Peapack Gladstone Financial Corp now owns 41,577 shares of the company’s stock worth $9,890,000 after buying an additional 194 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $218.01 on Friday. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The company has a market capitalization of $40.92 billion, a PE ratio of 27.70, a P/E/G ratio of 2.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The company has a 50-day simple moving average of $208.87 and a two-hundred day simple moving average of $223.03.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping 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 expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.20%. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LHX. Citigroup dropped their price objective on L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, April 10th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and upped their price target for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. Jefferies Financial Group dropped their target price on shares of 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, Sanford C. Bernstein raised shares of 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. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $256.35.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jon Rambeau sold 3,178 shares of the firm’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 transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate 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.