Horizon Investments LLC Purchases 94 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Horizon Investments LLC grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,208 shares of the company’s stock after purchasing an additional 94 shares during the quarter. Horizon Investments LLC’s holdings in L3Harris Technologies were worth $885,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Advisors Asset Management Inc. grew its holdings in L3Harris Technologies by 22.5% during the 4th quarter. Advisors Asset Management Inc. now owns 30,479 shares of the company’s stock worth $6,409,000 after acquiring an additional 5,606 shares during the period. PDS Planning Inc boosted its position in shares of L3Harris Technologies by 5.8% in the 4th quarter. PDS Planning Inc now owns 1,100 shares of the company’s stock worth $231,000 after purchasing an additional 60 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $75,000. Cibc World Markets Corp increased its holdings in L3Harris Technologies by 16.3% in the fourth quarter. Cibc World Markets Corp now owns 29,960 shares of the company’s stock valued at $6,300,000 after purchasing an additional 4,194 shares during the last quarter. Finally, SouthState Corp lifted its stake in L3Harris Technologies by 0.8% in the fourth quarter. SouthState Corp now owns 57,844 shares of the company’s stock valued at $12,163,000 after buying an additional 474 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $213.07 on Thursday. The company has a 50 day moving average of $209.74 and a 200-day moving average of $226.58. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $40.00 billion, a P/E ratio of 27.07, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly 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 net margin of 7.04% and a return on equity of 13.11%. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a dividend of $1.20 per share. 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. This represents a $4.80 annualized dividend and a yield of 2.25%. L3Harris Technologies’s dividend payout ratio is 60.99%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,098 shares of company stock worth $1,760,588 over the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LHX shares. Wells Fargo & Company decreased their target price on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. UBS Group increased their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Morgan Stanley decreased their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, Barclays dropped their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.