Syon Capital LLC Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Syon Capital LLC bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,099 shares of the company’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Integrated Advisors Network LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $3,907,000. V Square Quantitative Management LLC lifted its holdings in shares of L3Harris Technologies by 34.9% in the 4th quarter. V Square Quantitative Management LLC now owns 3,265 shares of the company’s stock valued at $688,000 after purchasing an additional 845 shares during the last quarter. Voisard Asset Management Group Inc. purchased a new stake in L3Harris Technologies during the 4th quarter valued at approximately $105,000. PCA Investment Advisory Services Inc. purchased a new stake in L3Harris Technologies during the 4th quarter valued at approximately $212,000. Finally, Price T Rowe Associates Inc. MD raised its stake in L3Harris Technologies by 0.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,585,362 shares of the company’s stock valued at $2,018,870,000 after acquiring an additional 40,448 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

LHX stock opened at $222.44 on Wednesday. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $226.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The stock’s 50 day moving average price is $216.28 and its 200 day moving average price is $211.46. The firm has a market cap of $42.19 billion, a P/E ratio of 36.11, a PEG ratio of 1.83 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same quarter in the prior year, the company earned $2.86 EPS. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 12.89 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Wall Street Analyst Weigh In

LHX has been the subject of several analyst reports. Royal Bank of Canada upped their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research report on Monday, April 22nd. Barclays boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. boosted their target price on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $231.80.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders have sold a total of 122,898 shares of company stock valued at $27,046,967 in the last quarter. 0.87% of the stock is currently owned by company insiders.

L3Harris Technologies Company 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.