Adams Diversified Equity Fund Inc. Purchases New Shares in L3Harris Technologies, Inc. (NYSE:LHX)

Adams Diversified Equity Fund Inc. acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 83,000 shares of the company's stock, valued at approximately $17,453,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in L3Harris Technologies during the fourth quarter valued at $398,507,000. Boston Partners increased its position in L3Harris Technologies by 20.2% during 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 during the last quarter. National Pension Service grew its holdings in L3Harris Technologies by 42.1% during the 4th quarter. National Pension Service now owns 606,047 shares of the company's stock valued at $127,440,000 after purchasing an additional 179,539 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of L3Harris Technologies by 29.9% during the third 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 during the period. Finally, Victory Capital Management Inc. increased its holdings in L3Harris Technologies by 132.4% during the 4th quarter. Victory Capital Management Inc. now owns 280,540 shares of the company's stock worth $58,992,000 after purchasing an additional 159,806 shares during the period. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

NYSE:LHX traded up $2.90 during trading hours on Monday, hitting $210.88. 861,549 shares of the company were exchanged, compared to its average volume of 921,464. 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 company's 50 day moving average price is $209.74 and its 200-day moving average price is $225.98. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The stock has a market capitalization of $39.59 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.42 and a beta of 0.74.

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L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly 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 net margin of 7.04% and a return on equity of 13.11%. As a group, research analysts forecast 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 was paid on Friday, March 21st. Shareholders 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 2.28%. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. L3Harris Technologies's dividend payout ratio (DPR) is presently 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 on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ross Niebergall sold 1,373 shares of the company's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,334 shares of company stock worth $1,383,709 over the last quarter. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LHX shares. Morgan Stanley lowered their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Raymond James downgraded shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. JPMorgan Chase & Co. cut their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Barclays lowered their target price on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $261.40.

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.