Federated Hermes Inc. Grows Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Federated Hermes Inc. raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,216 shares of the company’s stock after buying an additional 2,598 shares during the period. Federated Hermes Inc.’s holdings in L3Harris Technologies were worth $5,302,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Measured Wealth Private Client Group LLC increased its stake in L3Harris Technologies by 5.5% in 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 in the last quarter. Premier Path Wealth Partners LLC increased its position 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 valued at $328,000 after buying an additional 51 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake 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 buying an additional 53 shares during the last quarter. Klingman & Associates LLC boosted its position in shares of L3Harris Technologies by 2.8% in the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock worth $406,000 after buying an additional 53 shares in the last quarter. Finally, Zullo Investment Group Inc. grew 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 valued at $361,000 after acquiring an additional 54 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LHX has been the topic of several recent research reports. Barclays reduced their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. cut their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Jefferies Financial Group decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Wells Fargo & Company dropped their target price on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $256.94.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $221.67 on Friday. The firm’s fifty day simple moving average is $207.62 and its 200 day simple moving average is $223.70. 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, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The firm has a market capitalization of $41.61 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last issued its earnings results 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 return on equity of 13.11% and a net margin of 7.04%. As a group, equities research 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 disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.17%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Insider Transactions at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following 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. Corporate insiders own 0.72% of the company’s stock.

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.