Savant Capital LLC Purchases 2,367 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Savant Capital LLC grew its position in L3Harris Technologies, Inc. (NYSE:LHX) by 75.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,500 shares of the company’s stock after purchasing an additional 2,367 shares during the period. Savant Capital LLC’s holdings in L3Harris Technologies were worth $1,158,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Cross Staff Investments Inc boosted its position in L3Harris Technologies by 12.4% during the 4th quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock worth $302,000 after acquiring an additional 158 shares during the last quarter. Sapient Capital LLC acquired a new position in L3Harris Technologies during the fourth quarter worth $1,198,000. Bruce G. Allen Investments LLC acquired a new stake in L3Harris Technologies in the 4th quarter valued at $46,000. BKM Wealth Management LLC bought a new stake in L3Harris Technologies during the 4th quarter worth about $1,125,000. Finally, South Dakota Investment Council boosted its stake in shares of L3Harris Technologies by 43.2% during the 3rd quarter. South Dakota Investment Council now owns 39,368 shares of the company’s stock worth $6,855,000 after buying an additional 11,879 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director William H. Swanson bought 1,250 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other L3Harris Technologies news, Director William H. Swanson purchased 1,250 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,362 shares of company stock worth $10,261,360. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on LHX shares. Royal Bank of Canada lifted their target price on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Raymond James upped their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research note on Monday, April 22nd. JPMorgan Chase & Co. upped their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Citigroup increased their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $231.33.

L3Harris Technologies Stock Performance

NYSE LHX opened at $212.24 on Friday. The firm has a 50-day moving average price of $210.22 and a two-hundred day moving average price of $202.31. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $218.34. The company has a market capitalization of $40.26 billion, a P/E ratio of 34.45, a P/E/G ratio of 1.88 and a beta of 0.63. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same period in the previous year, the company posted $2.86 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. Analysts anticipate that L3Harris Technologies, Inc. will post 12.87 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. The ex-dividend date is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.19%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

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.