New Age Alpha Advisors LLC Invests $2.65 Million in L3Harris Technologies, Inc. (NYSE:LHX)

New Age Alpha Advisors LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,584 shares of the company’s stock, valued at approximately $2,646,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Quest Partners LLC grew its holdings in shares of L3Harris Technologies by 36,000.0% during the 3rd quarter. Quest Partners LLC now owns 361 shares of the company’s stock valued at $86,000 after purchasing an additional 360 shares during the last quarter. Fisher Asset Management LLC boosted its position in L3Harris Technologies by 16.5% in the third quarter. Fisher Asset Management LLC now owns 1,555 shares of the company’s stock valued at $370,000 after buying an additional 220 shares in the last quarter. Townsquare Capital LLC grew its stake in shares of L3Harris Technologies by 18.5% during the third quarter. Townsquare Capital LLC now owns 3,502 shares of the company’s stock worth $833,000 after buying an additional 547 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of L3Harris Technologies by 1.5% during the third quarter. Glenmede Trust Co. NA now owns 21,680 shares of the company’s stock worth $5,157,000 after buying an additional 314 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its stake in shares of L3Harris Technologies by 27.6% in the 3rd quarter. CreativeOne Wealth LLC now owns 3,523 shares of the company’s stock valued at $838,000 after acquiring an additional 762 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,334 shares of company stock valued at $1,383,709. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $207.46 on Friday. The stock has a market capitalization of $38.94 billion, a price-to-earnings ratio of 26.36, a PEG 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 company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock’s 50 day moving average price is $209.34 and its two-hundred day moving average price is $225.52.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.31%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s payout ratio is presently 60.99%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup lowered their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Truist Financial cut their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. decreased their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Susquehanna cut their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Five 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

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.