LPL Financial LLC Has $47.57 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

LPL Financial LLC grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,199 shares of the company’s stock after purchasing an additional 5,746 shares during the period. LPL Financial LLC owned about 0.12% of L3Harris Technologies worth $47,565,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fortem Financial Group LLC bought a new position in L3Harris Technologies during the third quarter valued at about $841,000. Czech National Bank raised its stake in shares of L3Harris Technologies by 6.4% in the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after purchasing an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. lifted its position in L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the period. Principal Financial Group Inc. increased its holdings in L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after buying an additional 4,321 shares during the period. Finally, Sanctuary Advisors LLC increased its holdings in L3Harris Technologies by 13.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $7,602,000 after buying an additional 3,740 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.4 %

Shares of NYSE LHX opened at $212.86 on Friday. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a 50-day moving average of $209.55 and a two-hundred day moving average of $225.69. The company has a market cap of $39.96 billion, a PE ratio of 27.05, a P/E/G ratio of 2.42 and a beta of 0.74. 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 (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $1.20 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.25%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Insider Buying and Selling

In other news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction 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 transaction, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction 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 sale, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,334 shares of company stock worth $1,383,709 over the last three months. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LHX shares. Citigroup decreased their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Truist Financial dropped their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Morgan Stanley decreased their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. dropped their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.