Boothbay Fund Management LLC Takes $907,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Boothbay Fund Management LLC acquired a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 4,315 shares of the company’s stock, valued at approximately $907,000.

Other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after buying an additional 82 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth about $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after purchasing an additional 111 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Bank of America dropped their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. Citigroup dropped their price objective on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Barclays reduced their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $256.56.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $221.54 on Wednesday. The firm has a market capitalization of $41.59 billion, a P/E ratio of 28.15, a P/E/G ratio of 2.42 and a beta of 0.71. The stock has a fifty day moving average price of $211.56 and a two-hundred day moving average price of $221.77. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. 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 (NYSE:LHX) last announced its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $3.06 EPS. As a group, analysts anticipate 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. Stockholders of record on Tuesday, June 3rd will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s payout ratio is currently 56.94%.

Insider Buying and Selling

In other news, insider Jon Rambeau sold 3,178 shares of the 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 sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction 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 owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

About L3Harris Technologies

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.