Sandy Spring Bank Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Sandy Spring Bank raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 20,624 shares of the company’s stock after buying an additional 315 shares during the quarter. Sandy Spring Bank’s holdings in L3Harris Technologies were worth $4,337,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in LHX. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth approximately $27,000. Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $30,000. Union Bancaire Privee UBP SA purchased a new position in L3Harris Technologies in the 4th quarter worth approximately $33,000. New Millennium Group LLC lifted its position in L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after acquiring an additional 163 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in L3Harris Technologies by 78.9% during the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after purchasing an additional 86 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction that occurred 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 directly owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred 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 sale, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,098 shares of company stock worth $1,760,588 over the last quarter. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 1.5 %

LHX opened at $209.91 on Friday. The stock has a market cap of $39.40 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The firm’s fifty day moving average is $209.80 and its 200 day moving average is $226.46. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data 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%. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.20 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LHX shares. UBS Group upped their price target on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Barclays lowered their price objective on shares of 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 investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Company 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.