Horrell Capital Management Inc. Increases Position in L3Harris Technologies, Inc. (NYSE:LHX)

Horrell Capital Management Inc. lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,657 shares of the company’s stock after buying an additional 76 shares during the quarter. L3Harris Technologies makes up 1.6% of Horrell Capital Management Inc.’s holdings, making the stock its 17th largest holding. Horrell Capital Management Inc.’s holdings in L3Harris Technologies were worth $5,605,000 at the end of the most recent quarter.

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

L3Harris Technologies Stock Down 0.8 %

Shares of NYSE LHX opened at $208.15 on Monday. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The firm has a 50-day simple moving average of $209.80 and a two-hundred day simple moving average of $226.13. The company has a market cap of $39.07 billion, a P/E ratio of 26.45, a PEG ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

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

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a $1.20 dividend. The ex-dividend date was Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.31%. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LHX shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Barclays decreased their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their target price for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $261.40.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,334 shares of company stock valued at $1,383,709 in the last 90 days. Company insiders own 0.72% of the company’s stock.

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.