L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,768 shares of the company’s stock after purchasing an additional 191 shares during the period. Peapack Gladstone Financial Corp’s holdings in L3Harris Technologies were worth $8,782,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. lifted its position in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after acquiring an additional 82 shares during the last quarter. Millstone Evans Group LLC purchased a new position in L3Harris Technologies in the 4th quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth about $27,000. Roxbury Financial LLC purchased a new stake in L3Harris Technologies during the fourth quarter valued at about $30,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of L3Harris Technologies in the fourth quarter worth about $33,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Down 3.8 %

L3Harris Technologies stock opened at $202.03 on Monday. 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 1-year low of $193.09 and a 1-year high of $265.74. The firm’s fifty day simple moving average is $208.20 and its 200-day simple moving average is $224.76. The company has a market capitalization of $37.92 billion, a P/E ratio of 25.67, a P/E/G ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share 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%. 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 declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.38%. The ex-dividend date was Monday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of several research analyst reports. Truist Financial reduced their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Susquehanna reduced their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Jefferies Financial Group lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Finally, Bank of America lowered their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $260.69.

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.