L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Blair William & Co. IL

Blair William & Co. IL grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,753 shares of the company’s stock after purchasing an additional 617 shares during the period. Blair William & Co. IL’s holdings in L3Harris Technologies were worth $6,467,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in L3Harris Technologies during the 4th quarter worth about $398,507,000. Vanguard Group Inc. raised its holdings in L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after acquiring an additional 401,168 shares in the last quarter. Boston Partners raised its holdings in L3Harris Technologies by 20.2% in the fourth quarter. Boston Partners now owns 1,178,741 shares of the company’s stock valued at $247,893,000 after acquiring an additional 198,243 shares in the last quarter. National Pension Service lifted its stake in L3Harris Technologies by 42.1% in the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock worth $127,440,000 after acquiring an additional 179,539 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after acquiring an additional 178,407 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective 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. Susquehanna cut 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. Deutsche Bank Aktiengesellschaft lowered their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. lowered 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. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

Insider Buying and Selling

In other news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated 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. The trade was a 53.19 % 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 Stock Down 2.5 %

Shares of NYSE:LHX opened at $207.46 on Monday. 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 stock has a market cap of $38.94 billion, a P/E ratio of 26.36, 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 firm has a fifty day moving average price of $209.34 and a 200 day moving average price of $225.51.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results 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 return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a $1.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.31%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is presently 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.