Enhancing Capital LLC Purchases Shares of 4,044 L3Harris Technologies, Inc. (NYSE:LHX)

Enhancing Capital LLC acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 4,044 shares of the company’s stock, valued at approximately $850,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Boston Partners lifted its stake in L3Harris Technologies by 20.2% in the fourth 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 last quarter. Horizon Investments LLC lifted its stake in L3Harris Technologies by 2.3% in the 4th quarter. Horizon Investments LLC now owns 4,208 shares of the company’s stock valued at $885,000 after purchasing an additional 94 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in L3Harris Technologies by 22.5% during the fourth quarter. Advisors Asset Management Inc. now owns 30,479 shares of the company’s stock worth $6,409,000 after purchasing an additional 5,606 shares during the period. PDS Planning Inc increased its position in L3Harris Technologies by 5.8% during the fourth quarter. PDS Planning Inc now owns 1,100 shares of the company’s stock worth $231,000 after buying an additional 60 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new stake in L3Harris Technologies in the fourth quarter valued at approximately $75,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.9 %

LHX opened at $212.93 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The stock has a market capitalization of $39.97 billion, a price-to-earnings ratio of 27.06, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a 50-day simple moving average of $209.44 and a 200 day simple moving average of $226.84.

L3Harris Technologies (NYSE:LHX) last posted its quarterly 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%. Analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.25%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is 60.99%.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. The trade was a 21.38 % 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 in the last ninety days. 0.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LHX has been the subject of several research analyst reports. UBS Group lifted their target price on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Tuesday, November 26th. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Barclays decreased their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Bank of America cut their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Five research 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

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.