New Age Alpha Advisors LLC Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

New Age Alpha Advisors LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 12,584 shares of the company’s stock, valued at approximately $2,646,000.

Several other hedge funds have also recently modified their holdings of the company. Millstone Evans Group LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at $27,000. Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $30,000. Union Bancaire Privee UBP SA bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $33,000. Finally, New Millennium Group LLC boosted its holdings in shares of L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after buying an additional 163 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Susquehanna lowered their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock 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. Citigroup lowered their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

Insiders Place Their Bets

In other news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction 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 trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,334 shares of company stock valued at $1,383,709 in the last quarter. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Trading Down 2.5 %

Shares of L3Harris Technologies stock opened at $207.46 on Friday. The company’s 50-day moving average price is $209.34 and its 200-day moving average price is $225.52. 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, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a market cap of $38.94 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly 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 net margin of 7.04% and a return on equity of 13.11%. On average, equities analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business 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 an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

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.