Gotham Asset Management LLC Has $11.10 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Gotham Asset Management LLC lifted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 2,501.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,763 shares of the company’s stock after acquiring an additional 50,735 shares during the period. Gotham Asset Management LLC’s holdings in L3Harris Technologies were worth $11,095,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after buying an additional 4,321 shares during the period. Diversified Trust Co raised its holdings in L3Harris Technologies by 65.2% during the 4th quarter. Diversified Trust Co now owns 1,802 shares of the company’s stock worth $379,000 after buying an additional 711 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of L3Harris Technologies by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,261 shares of the company’s stock valued at $8,676,000 after purchasing an additional 447 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of L3Harris Technologies by 2.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 4,919 shares of the company’s stock valued at $1,034,000 after purchasing an additional 113 shares during the period. Finally, Czech National Bank raised its stake in shares of L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after purchasing an additional 2,480 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. This represents a 53.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies 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 transaction, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $219.15 on Monday. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock’s 50 day moving average is $213.93 and its 200-day moving average is $220.02. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $40.97 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the prior year, the company posted $3.06 earnings per share. L3Harris Technologies’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is currently 56.94%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. Citigroup lowered 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. Truist Financial lowered their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Jefferies Financial Group lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Morgan Stanley lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $256.56.

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.