Stevens Capital Management LP Purchases New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Stevens Capital Management LP purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,776 shares of the company’s stock, valued at approximately $373,000.

Other institutional investors have also recently modified their holdings of the company. Millstone Evans Group LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $27,000. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $30,000. Union Bancaire Privee UBP SA purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $33,000. Finally, New Millennium Group LLC boosted its stake in shares of L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after buying an additional 163 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,334 shares of company stock worth $1,383,709. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $208.15 on Monday. The firm has a market capitalization of $39.07 billion, a P/E ratio of 26.45, a PEG ratio of 2.42 and a beta of 0.74. The stock has a fifty day moving average price of $209.80 and a 200 day moving average price of $226.13. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $1.20 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley reduced their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Susquehanna reduced their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Truist Financial reduced their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

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.