Victory Capital Management Inc. Buys 30,358 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Victory Capital Management Inc. raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 40.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,231 shares of the company’s stock after acquiring an additional 30,358 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of L3Harris Technologies worth $22,374,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LHX. KB Financial Partners LLC boosted its position in L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after buying an additional 82 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new stake in L3Harris Technologies during the 3rd quarter valued at $35,000. Blue Trust Inc. raised its position in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after purchasing an additional 109 shares during the last quarter. Washington Trust Advisors Inc. boosted its stake in L3Harris Technologies by 80.6% in the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter worth $46,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.0 %

Shares of NYSE:LHX opened at $215.88 on Thursday. The company has a 50 day moving average price of $210.32 and a two-hundred day moving average price of $203.41. The company has a market capitalization of $40.95 billion, a PE ratio of 35.05, a PEG ratio of 1.88 and a beta of 0.63. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.86 EPS. Analysts forecast that L3Harris Technologies, Inc. will post 12.91 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 annualized dividend and a dividend yield of 2.15%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred 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 transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Scott T. Mikuen sold 3,363 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $212.86, for a total transaction of $715,848.18. Following the completion of the transaction, the senior vice president now directly owns 55,254 shares in the company, valued at $11,761,366.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. In the last three months, insiders sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LHX shares. Barclays upped their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. 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. JPMorgan Chase & Co. increased their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research report on Monday, April 22nd. Finally, StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.80.

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.