18,804 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Bought by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,804 shares of the company’s stock, valued at approximately $3,954,000.

Several other institutional investors and hedge funds have also bought and sold shares of LHX. Fortem Financial Group LLC lifted its stake in shares of L3Harris Technologies by 13.1% in the 4th quarter. Fortem Financial Group LLC now owns 4,002 shares of the company’s stock worth $842,000 after purchasing an additional 465 shares during the period. Bard Financial Services Inc. increased its holdings in L3Harris Technologies by 6.1% during the fourth quarter. Bard Financial Services Inc. now owns 5,250 shares of the company’s stock valued at $1,104,000 after buying an additional 300 shares during the last quarter. Central Pacific Bank Trust Division raised its position in L3Harris Technologies by 23.0% in the fourth quarter. Central Pacific Bank Trust Division now owns 984 shares of the company’s stock worth $207,000 after acquiring an additional 184 shares during the period. GAMMA Investing LLC boosted its stake in shares of L3Harris Technologies by 26.4% during the 4th quarter. GAMMA Investing LLC now owns 2,790 shares of the company’s stock worth $587,000 after acquiring an additional 582 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of L3Harris Technologies by 133.7% during the 4th quarter. Versant Capital Management Inc now owns 472 shares of the company’s stock worth $99,000 after acquiring an additional 270 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup raised their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Thursday, October 10th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. Finally, Royal Bank of Canada lifted their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $267.07.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the sale, the insider now directly owns 8,576 shares in the company, valued at $1,917,765.12. The trade was a 17.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 7,889 shares of company stock valued at $1,800,572 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

LHX stock traded down $5.75 during mid-day trading on Monday, hitting $204.00. The company had a trading volume of 968,531 shares, compared to its average volume of 925,812. The company has a 50-day moving average price of $235.18 and a 200 day moving average price of $234.03. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The company has a market capitalization of $38.69 billion, a price-to-earnings ratio of 32.23, a P/E/G ratio of 1.86 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 earnings per share. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

L3Harris Technologies 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.