Umpqua Bank Increases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Umpqua Bank lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 9.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,532 shares of the company’s stock after buying an additional 311 shares during the period. Umpqua Bank’s holdings in L3Harris Technologies were worth $759,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LHX. Millstone Evans Group LLC acquired a new position in L3Harris Technologies during the fourth quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $27,000. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $30,000. Union Bancaire Privee UBP SA acquired a new position in L3Harris Technologies during the fourth quarter worth $33,000. Finally, New Millennium Group LLC raised its holdings in L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after purchasing an additional 163 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of several analyst reports. Morgan Stanley dropped their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada restated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Citigroup reduced their price target on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, UBS Group boosted their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,098 shares of company stock valued at $1,760,588. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Trading Down 0.8 %

Shares of NYSE:LHX opened at $208.15 on Friday. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The stock has a market cap of $39.07 billion, a PE ratio of 26.45, a P/E/G ratio of 2.42 and a beta of 0.74. The business has a 50 day moving average of $209.80 and a 200-day moving average of $226.26. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

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 net margin of 7.04% and a return on equity of 13.11%. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid 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 dividend yield of 2.31%. L3Harris Technologies’s payout ratio is currently 60.99%.

About L3Harris Technologies

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.