L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 22.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,479 shares of the company’s stock after purchasing an additional 5,606 shares during the quarter. Advisors Asset Management Inc.’s holdings in L3Harris Technologies were worth $6,409,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Measured Wealth Private Client Group LLC raised its stake in shares of L3Harris Technologies by 5.5% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock valued at $200,000 after purchasing an additional 50 shares in the last quarter. Avestar Capital LLC boosted its holdings in L3Harris Technologies by 4.2% during the third quarter. Avestar Capital LLC now owns 1,255 shares of the company’s stock worth $299,000 after buying an additional 51 shares in the last quarter. Premier Path Wealth Partners LLC grew its holdings in shares of L3Harris Technologies by 3.4% in the 4th quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock worth $328,000 after acquiring an additional 51 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in L3Harris Technologies by 2.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock worth $514,000 after purchasing an additional 53 shares in the last quarter. Finally, Klingman & Associates LLC raised its holdings in shares of L3Harris Technologies by 2.8% during the fourth quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock valued at $406,000 after acquiring an additional 53 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $212.46 on Wednesday. The company has a 50 day simple moving average of $209.62 and a 200 day simple moving average of $226.67. The stock has a market cap of $39.88 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. 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 released its quarterly earnings data 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 net margin of 7.04% and a return on equity of 13.11%. Research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced 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 represents a $4.80 dividend on an annualized basis and a yield of 2.26%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s payout ratio is presently 60.99%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction 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. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,098 shares of company stock valued at $1,760,588 in the last ninety days. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LHX. UBS Group increased their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. decreased their price target 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. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Bank of America cut their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Finally, Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

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.