Impact Capital Partners LLC Acquires New Position in L3Harris Technologies, Inc. (NYSE:LHX)

Impact Capital Partners LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,286 shares of the company’s stock, valued at approximately $270,000.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in L3Harris Technologies during the fourth quarter worth about $398,507,000. National Pension Service boosted its stake in L3Harris Technologies by 42.1% during the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock worth $127,440,000 after buying an additional 179,539 shares during the period. JPMorgan Chase & Co. boosted its stake in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares during the period. Mizuho Markets Americas LLC boosted its stake in L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after buying an additional 166,262 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in L3Harris Technologies by 132.4% during the fourth quarter. Victory Capital Management Inc. now owns 280,540 shares of the company’s stock worth $58,992,000 after buying an additional 159,806 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Truist Financial lowered their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. reduced their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the transaction, the insider now directly owns 6,812 shares in the company, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies 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 transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,862 shares of company stock worth $2,155,054 in the last three months. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $211.42 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The firm has a market cap of $39.69 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The company’s 50 day simple moving average is $209.26 and its 200-day simple moving average is $227.04. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

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

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders 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 positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.27%. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

About L3Harris Technologies

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.