Harbor Capital Advisors Inc. Has $1.03 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Harbor Capital Advisors Inc. increased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,919 shares of the company’s stock after buying an additional 113 shares during the period. Harbor Capital Advisors Inc.’s holdings in L3Harris Technologies were worth $1,034,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC acquired a new stake in shares of L3Harris Technologies in the 2nd quarter valued at $57,000. Meeder Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in shares of L3Harris Technologies by 11.6% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,621 shares of the company’s stock valued at $364,000 after acquiring an additional 169 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of L3Harris Technologies by 6.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,705 shares of the company’s stock valued at $1,057,000 after acquiring an additional 268 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in L3Harris Technologies by 236.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after purchasing an additional 695,582 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 2.7 %

NYSE LHX opened at $213.85 on Tuesday. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74. The company has a market capitalization of $40.56 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 1.86 and a beta of 0.75. The stock’s 50 day moving average is $230.43 and its two-hundred day moving average is $233.30. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 earnings per share. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a $1.16 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 2.17%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LHX shares. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, October 10th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Royal Bank of Canada raised their target price on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Finally, StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $266.31.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on 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 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. Over the last ninety days, insiders have sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is currently owned by 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.