International Assets Investment Management LLC Takes $26.86 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

International Assets Investment Management LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 127,504 shares of the company’s stock, valued at approximately $26,855,000. International Assets Investment Management LLC owned about 0.07% of L3Harris Technologies at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth about $46,000. BKM Wealth Management LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter worth $1,125,000. South Dakota Investment Council lifted its position in L3Harris Technologies by 43.2% during the third quarter. South Dakota Investment Council now owns 39,368 shares of the company’s stock valued at $6,855,000 after purchasing an additional 11,879 shares during the period. Horrell Capital Management Inc. acquired a new position in L3Harris Technologies during the third quarter valued at $5,072,000. Finally, B&D White Capital Company LLC acquired a new stake in L3Harris Technologies during the 3rd quarter worth about $2,072,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LHX shares. Royal Bank of Canada upped their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Raymond James lifted their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. UBS Group boosted their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, Citigroup increased their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.33.

Insider Activity

In other L3Harris Technologies news, Director William H. Swanson purchased 1,250 shares of the stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director William H. Swanson purchased 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 over the last quarter. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $212.24 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $218.34. The stock has a fifty day moving average of $210.22 and a two-hundred day moving average of $202.31. The company has a market capitalization of $40.26 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.17. The firm had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.86 EPS. On average, analysts anticipate that L3Harris Technologies, Inc. will post 12.87 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

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.