Boston Partners Buys 198,243 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Boston Partners boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 20.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,178,741 shares of the company's stock after buying an additional 198,243 shares during the period. Boston Partners owned approximately 0.62% of L3Harris Technologies worth $247,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of LHX. Fortem Financial Group LLC purchased a new position in L3Harris Technologies during the 3rd quarter valued at about $841,000. Czech National Bank grew its position in shares of L3Harris Technologies by 6.4% during the 4th quarter. Czech National Bank now owns 41,124 shares of the company's stock valued at $8,648,000 after purchasing an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. grew its position in 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 buying an additional 178,407 shares in the last quarter. Principal Financial Group Inc. grew its position in L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock worth $52,395,000 after buying an additional 4,321 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in shares of L3Harris Technologies by 13.9% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock worth $7,602,000 after purchasing an additional 3,740 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Bank of America dropped their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their target price on L3Harris Technologies from $269.00 to $268.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. Barclays reduced their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price for the company in a research report on Tuesday, November 26th. Finally, Raymond James downgraded L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $261.40.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ross Niebergall sold 1,373 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,098 shares of company stock valued at $1,760,588 over the last 90 days. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Down 0.8 %

Shares of L3Harris Technologies stock traded down $1.74 during trading on Friday, hitting $208.15. The company's stock had a trading volume of 1,931,912 shares, compared to its average volume of 921,848. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a fifty day simple moving average of $209.80 and a two-hundred day simple moving average of $226.20. The company has a market capitalization of $39.07 billion, a PE ratio of 26.45, a P/E/G 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 (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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%. Equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company 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. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Monday, March 10th. L3Harris Technologies's dividend payout ratio (DPR) is currently 60.99%.

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.