L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by FIL Ltd

FIL Ltd increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 71.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,079 shares of the company’s stock after purchasing an additional 94,990 shares during the period. FIL Ltd owned 0.12% of L3Harris Technologies worth $47,750,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Measured Wealth Private Client Group LLC raised its position 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 worth $200,000 after purchasing an additional 50 shares during the last quarter. Premier Path Wealth Partners LLC raised its position in shares of L3Harris Technologies by 3.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock worth $328,000 after purchasing an additional 51 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of L3Harris Technologies by 2.2% during 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 during the last quarter. Klingman & Associates LLC raised its position in shares of L3Harris Technologies by 2.8% during the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock worth $406,000 after purchasing an additional 53 shares during the last quarter. Finally, Zullo Investment Group Inc. raised its position in shares of L3Harris Technologies by 3.2% during 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 last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Up 7.0 %

Shares of NYSE LHX opened at $214.77 on Thursday. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a market cap of $40.32 billion, a P/E ratio of 27.29, a P/E/G ratio of 2.42 and a beta of 0.71. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $207.38 and a 200 day moving average price of $223.92.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) 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%. Research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business 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 an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.23%. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s dividend payout ratio is currently 60.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Bank of America reduced their price target 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. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Susquehanna reduced their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Citigroup reduced their price target on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Truist Financial reduced their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.06.

Insider Activity

In other news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction dated 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 in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the firm’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 of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

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.