Barrow Hanley Mewhinney & Strauss LLC Buys 4,150 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,622 shares of the company's stock after buying an additional 4,150 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC's holdings in L3Harris Technologies were worth $15,692,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth $11,508,000. Allstate Corp bought a new stake in L3Harris Technologies during the fourth quarter worth about $1,169,000. Brown Brothers Harriman & Co. grew its stake in L3Harris Technologies by 92.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,019 shares of the company's stock worth $214,000 after buying an additional 489 shares in the last quarter. Gardner Lewis Asset Management L P bought a new position in L3Harris Technologies in the 4th quarter valued at about $1,214,000. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of L3Harris Technologies by 0.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 56,181 shares of the company's stock valued at $11,814,000 after buying an additional 280 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Trading Down 3.8 %

NYSE LHX traded down $7.92 on Friday, reaching $202.03. The company had a trading volume of 3,081,641 shares, compared to its average volume of 965,054. The firm has a market cap of $37.92 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 2.42 and a beta of 0.71. 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 fifty-two week low of $193.09 and a fifty-two week high of $265.74. The business has a 50 day moving average of $208.20 and a two-hundred day moving average of $224.83.

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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, 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%. Analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $1.20 dividend. 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 2.38%. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. L3Harris Technologies's payout ratio is 60.99%.

Insider Activity

In other news, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company's stock, valued at $632,122. The trade was a 53.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now directly owns 30,620 shares of the company's stock, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LHX shares. Bank of America reduced their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft reduced their target price on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a report on Thursday, January 2nd. Susquehanna lowered their price target on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada restated a "sector perform" rating and set a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Finally, Citigroup decreased their target price on L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $260.69.

L3Harris Technologies Company 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.