Brown Brothers Harriman & Co. Purchases 489 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Brown Brothers Harriman & Co. boosted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 92.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,019 shares of the company’s stock after buying an additional 489 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in L3Harris Technologies were worth $214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in LHX. Measured Wealth Private Client Group LLC grew its holdings in shares of L3Harris Technologies by 5.5% during the 4th 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 during the last quarter. Premier Path Wealth Partners LLC increased its holdings in shares of L3Harris Technologies by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock worth $328,000 after buying an additional 51 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in shares of 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 valued at $514,000 after acquiring an additional 53 shares during the last quarter. Klingman & Associates LLC boosted its holdings in L3Harris Technologies by 2.8% during the 4th 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. Finally, Zullo Investment Group Inc. increased its stake in L3Harris Technologies by 3.2% in the 4th quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company’s stock worth $361,000 after purchasing an additional 54 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the company’s 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 sale, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Trading Up 0.8 %

L3Harris Technologies stock opened at $209.35 on Tuesday. The stock has a market cap of $39.30 billion, a P/E ratio of 26.60, a PEG 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. The firm’s 50 day moving average price is $209.16 and its 200-day moving average price is $225.37.

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 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%. On average, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.29%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Truist Financial cut their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Citigroup decreased their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. Finally, Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company 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.