Victory Capital Management Inc. Acquires 159,806 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Victory Capital Management Inc. lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 132.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 280,540 shares of the company’s stock after purchasing an additional 159,806 shares during the period. Victory Capital Management Inc.’s holdings in L3Harris Technologies were worth $58,992,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LHX. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies during the 4th quarter worth about $27,000. Archer Investment Corp increased its position in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares in the last quarter. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth about $30,000. Kennebec Savings Bank acquired a new position in shares of L3Harris Technologies during the third quarter worth approximately $36,000. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $33,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred 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 owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 4,901 shares of company stock worth $1,059,757. 0.87% of the stock is owned by company insiders.

L3Harris Technologies Stock Up 3.1 %

Shares of NYSE:LHX opened at $220.47 on Friday. The company has a 50 day moving average price of $208.94 and a two-hundred day moving average price of $227.66. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The company has a market capitalization of $41.52 billion, a PE ratio of 28.01, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating 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%. Analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed 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. This represents a $4.80 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is 60.99%.

Analysts Set New Price Targets

Several research firms recently weighed in on LHX. Susquehanna dropped their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Citigroup dropped their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, February 10th. UBS Group raised their price target on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.