L3Harris Technologies, Inc. (NYSE:LHX) Stock Holdings Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in L3Harris Technologies, Inc. (NYSE:LHX) by 132.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 280,540 shares of the company’s stock after purchasing an additional 159,806 shares during the period. Victory Capital Management Inc. owned about 0.15% of L3Harris Technologies worth $58,992,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. National Pension Service increased its holdings 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 buying an additional 179,539 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 purchasing an additional 178,407 shares during the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after purchasing an additional 166,262 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at $25,071,000. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of L3Harris Technologies by 156.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock valued at $35,259,000 after purchasing an additional 90,370 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $220.47 on Friday. The firm’s 50-day moving average is $208.94 and its 200-day moving average is $227.66. The company has a market cap of $41.52 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued 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%. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.18%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 60.99%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LHX shares. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Tuesday, November 26th. Bank of America cut their price objective 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. Susquehanna reduced their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Sanford C. Bernstein upgraded 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 report on Wednesday, January 8th. Finally, Barclays reduced their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the sale, the insider now owns 8,576 shares in the company, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 4,901 shares of company stock worth $1,059,757. Corporate insiders own 0.87% 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.