Amundi Purchases 53,946 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Amundi raised its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 223.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,077 shares of the company's stock after buying an additional 53,946 shares during the period. Amundi's holdings in L3Harris Technologies were worth $16,174,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of L3Harris Technologies by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company's stock valued at $1,122,630,000 after acquiring an additional 59,008 shares during the last quarter. Raymond James Financial Inc. bought a new position in L3Harris Technologies in the 4th quarter valued at $398,507,000. Massachusetts Financial Services Co. MA increased its position in shares of L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company's stock valued at $366,875,000 after purchasing an additional 85,882 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of L3Harris Technologies by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company's stock worth $254,461,000 after purchasing an additional 32,979 shares during the period. Finally, Mizuho Markets Americas LLC raised its stake 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 worth $195,704,000 after purchasing an additional 166,262 shares during the period. Institutional investors own 84.76% of the company's stock.

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Wall Street Analyst Weigh In

LHX has been the subject of a number of research analyst reports. Royal Bank of Canada restated a "sector perform" rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. UBS Group increased their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Citigroup lowered their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Susquehanna reduced their price objective on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their target price on L3Harris Technologies from $269.00 to $268.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $261.40.

L3Harris Technologies Price Performance

Shares of LHX traded up $1.87 during midday trading on Monday, hitting $212.93. 1,042,188 shares of the company traded hands, compared to its average volume of 924,397. The stock has a 50-day moving average of $209.26 and a 200-day moving average of $226.99. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The firm has a market cap of $39.97 billion, a P/E ratio of 27.06, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts' consensus estimates 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, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $1.20 per share. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.25%. L3Harris Technologies's dividend payout ratio (DPR) is currently 60.99%.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now owns 5,049 shares of the company's stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,098 shares of company stock worth $1,760,588 over the last ninety days. 0.82% of the stock is owned by corporate insiders.

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.