Edgestream Partners L.P. Makes New $866,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Edgestream Partners L.P. purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 4,119 shares of the company’s stock, valued at approximately $866,000.

A number of other institutional investors have also modified their holdings of LHX. OneDigital Investment Advisors LLC lifted its stake in L3Harris Technologies by 0.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after acquiring an additional 40 shares in the last quarter. Archer Investment Corp increased its stake in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the period. Sigma Planning Corp lifted its position in shares of L3Harris Technologies by 1.9% during the third quarter. Sigma Planning Corp now owns 2,613 shares of the company’s stock worth $622,000 after purchasing an additional 49 shares in the last quarter. Measured Wealth Private Client Group LLC boosted its stake in shares of L3Harris Technologies by 5.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock valued at $200,000 after purchasing an additional 50 shares during the period. Finally, Avestar Capital LLC grew its holdings in shares of L3Harris Technologies by 4.2% in the third quarter. Avestar Capital LLC now owns 1,255 shares of the company’s stock valued at $299,000 after purchasing an additional 51 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 2.4 %

LHX opened at $212.58 on Wednesday. The firm has a market cap of $40.03 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The business’s 50 day moving average is $209.17 and its two-hundred day moving average is $227.41. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Analysts Set New Price Targets

LHX has been the topic of a number of research reports. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Morgan Stanley lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Susquehanna cut their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, Citigroup reduced their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $261.40.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the sale, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,862 shares of company stock worth $2,155,054. 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.