Bank of Montreal Can Purchases 58,636 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Bank of Montreal Can boosted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 17.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 399,035 shares of the company's stock after purchasing an additional 58,636 shares during the quarter. Bank of Montreal Can owned about 0.21% of L3Harris Technologies worth $83,909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of LHX. Measured Wealth Private Client Group LLC increased its holdings in L3Harris Technologies by 5.5% in the fourth 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 during the last quarter. Premier Path Wealth Partners LLC boosted its stake in L3Harris Technologies by 3.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company's stock worth $328,000 after acquiring an additional 51 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in L3Harris Technologies by 2.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company's stock valued at $514,000 after purchasing an additional 53 shares in the last quarter. Klingman & Associates LLC grew its holdings 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 valued at $406,000 after buying an additional 53 shares during the period. Finally, Zullo Investment Group Inc. raised its stake in L3Harris Technologies by 3.2% during the 4th quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company's stock worth $361,000 after buying an additional 54 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

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Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the company'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 completion of the transaction, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction on Monday, March 10th. The stock was 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. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Citigroup reduced their price target on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a research report on Thursday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price target for the company from $198.00 to $263.00 in a research note on Friday. Finally, Truist Financial decreased their price objective on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating for the company in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $256.94.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded up $1.77 during midday trading on Monday, hitting $223.80. The stock had a trading volume of 261,756 shares, compared to its average volume of 993,370. The company's 50-day moving average price is $207.62 and its 200-day moving average price is $223.64. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $42.01 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released 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 predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.14%. L3Harris Technologies's payout ratio is 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.