Frank Rimerman Advisors LLC Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

Frank Rimerman Advisors LLC raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 8.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,425 shares of the company’s stock after buying an additional 109 shares during the period. Frank Rimerman Advisors LLC’s holdings in L3Harris Technologies were worth $300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LHX. Bradley & Co. Private Wealth Management LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at about $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at about $30,000. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies during the fourth quarter valued at about $33,000. New Millennium Group LLC raised its holdings in L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after acquiring an additional 163 shares during the period. Finally, Trust Co. of Vermont raised its holdings in L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after acquiring an additional 86 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Up 0.9 %

LHX opened at $212.93 on Tuesday. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock has a 50-day moving average of $209.44 and a 200 day moving average of $226.84. The firm has a market cap of $39.97 billion, a P/E ratio of 27.06, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is 60.99%.

Analysts Set New Price Targets

LHX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Citigroup reduced their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Morgan Stanley reduced their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft reduced their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Finally, Susquehanna reduced their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $261.40.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the business’s 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 completion of the transaction, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,098 shares of company stock worth $1,760,588 over the last 90 days. Company insiders own 0.82% of the company’s stock.

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.