Virtu Financial LLC Purchases New Shares in L3Harris Technologies, Inc. (NYSE:LHX)

Virtu Financial LLC acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,198 shares of the company’s stock, valued at approximately $1,960,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cross Staff Investments Inc lifted its stake in L3Harris Technologies by 12.4% in the 4th quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock valued at $302,000 after acquiring an additional 158 shares in the last quarter. Boston Partners grew its holdings in L3Harris Technologies by 107.2% in the 4th quarter. Boston Partners now owns 813,558 shares of the company’s stock valued at $171,343,000 after buying an additional 420,943 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of L3Harris Technologies by 40.0% during the 4th quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after purchasing an additional 30,358 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of L3Harris Technologies by 3.9% during the 4th quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock worth $37,057,000 after purchasing an additional 6,675 shares in the last quarter. Finally, Scout Investments Inc. grew its holdings in shares of L3Harris Technologies by 59.4% during the 4th quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock worth $7,588,000 after purchasing an additional 13,423 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Activity

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the transaction, the vice president now owns 17,540 shares in the company, valued at approximately $3,823,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,312 shares of company stock valued at $24,712,822. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on LHX. Susquehanna raised their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday. Barclays raised their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price objective for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of L3Harris Technologies in a research report on Monday. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $236.60.

L3Harris Technologies Trading Up 0.4 %

NYSE LHX traded up $0.97 during trading hours on Friday, hitting $230.19. 1,051,724 shares of the company were exchanged, compared to its average volume of 1,006,314. The stock has a market cap of $43.67 billion, a PE ratio of 36.98, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. The stock has a 50-day moving average price of $226.44 and a 200 day moving average price of $216.60. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the prior year, the business earned $2.97 earnings per share. L3Harris Technologies’s revenue was up 12.9% on a year-over-year basis. Analysts forecast that L3Harris Technologies, Inc. will post 13.04 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $1.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.02%. L3Harris Technologies’s payout ratio is presently 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.