Potomac Fund Management Inc. ADV Purchases Shares of 6,854 L3Harris Technologies, Inc. (NYSE:LHX)

Potomac Fund Management Inc. ADV acquired a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,854 shares of the company’s stock, valued at approximately $1,441,000. L3Harris Technologies makes up approximately 1.3% of Potomac Fund Management Inc. ADV’s portfolio, making the stock its 18th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after purchasing an additional 401,168 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of L3Harris Technologies by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock worth $1,004,418,000 after buying an additional 53,787 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $398,507,000. Charles Schwab Investment Management Inc. increased its stake in shares of L3Harris Technologies by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock valued at $254,461,000 after acquiring an additional 32,979 shares in the last quarter. Finally, Boston Partners lifted its position in shares of L3Harris Technologies by 20.2% during the 4th quarter. Boston Partners now owns 1,178,741 shares of the company’s stock valued at $247,893,000 after acquiring an additional 198,243 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction dated 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 directly owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

L3Harris Technologies Trading Up 0.2 %

NYSE:LHX opened at $209.71 on Wednesday. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The firm has a 50-day moving average price of $208.90 and a two-hundred day moving average price of $225.23. 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 firm has a market cap of $39.37 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results 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 return on equity of 13.11% and a net margin of 7.04%. On average, equities analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.29%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s payout ratio is presently 60.99%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Susquehanna reduced their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Morgan Stanley reduced 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. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Bank of America cut their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Barclays decreased their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.69.

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.