Tucker Asset Management LLC Buys 198 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

by · The Cerbat Gem

Tucker Asset Management LLC boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 19.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,208 shares of the company’s stock after purchasing an additional 198 shares during the quarter. Tucker Asset Management LLC’s holdings in L3Harris Technologies were worth $210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in L3Harris Technologies during the fourth quarter valued at approximately $342,413,000. Cowa LLC acquired a new stake in shares of L3Harris Technologies in the first quarter worth $26,000. Renaissance Technologies LLC raised its holdings in shares of L3Harris Technologies by 284.1% during the first quarter. Renaissance Technologies LLC now owns 766,870 shares of the company’s stock worth $150,491,000 after purchasing an additional 567,200 shares during the last quarter. Two Sigma Investments LP acquired a new position in L3Harris Technologies during the first quarter valued at $83,532,000. Finally, Manning & Napier Group LLC boosted its holdings in L3Harris Technologies by 58.6% in the third quarter. Manning & Napier Group LLC now owns 1,034,176 shares of the company’s stock valued at $180,071,000 after purchasing an additional 381,997 shares during the last quarter. Institutional investors own 81.33% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock traded down $0.93 during midday trading on Tuesday, reaching $213.68. The stock had a trading volume of 505,226 shares, compared to its average volume of 1,092,897. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34. The company has a market cap of $40.62 billion, a price-to-earnings ratio of 33.18, a price-to-earnings-growth ratio of 2.00 and a beta of 0.65. The company’s fifty day simple moving average is $209.38 and its 200 day simple moving average is $193.06. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX – Get Free Report) last posted its quarterly earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the business posted $3.27 earnings per share. L3Harris Technologies’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be issued a dividend of $1.16 per share. The ex-dividend date is Thursday, March 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.17%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s dividend payout ratio (DPR) is currently 72.05%.

Insiders Place Their Bets

In related news, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the sale, the insider now directly owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

LHX has been the subject of several analyst reports. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $184.00 to $240.00 in a research note on Friday, December 15th. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Raymond James raised their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada upped their price objective on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $229.00.

Get Our Latest Research Report on L3Harris Technologies

L3Harris Technologies Company Profile

(Free Report)

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.

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