Commerce Bank Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

Commerce Bank lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,820 shares of the company's stock after buying an additional 1,607 shares during the period. Commerce Bank's holdings in L3Harris Technologies were worth $4,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC increased its stake 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 worth $200,000 after purchasing an additional 50 shares during the period. Premier Path Wealth Partners LLC boosted its holdings in shares of L3Harris Technologies by 3.4% in the 4th quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company's stock valued at $328,000 after buying an additional 51 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in L3Harris Technologies by 0.7% in the fourth quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock worth $1,476,000 after purchasing an additional 52 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its position in L3Harris Technologies by 2.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company's stock valued at $514,000 after buying an additional 53 shares in the last quarter. Finally, Klingman & Associates LLC raised its position 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 purchasing an additional 53 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jon Rambeau sold 3,178 shares of the company's stock in a transaction dated 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 transaction, the insider now directly owns 2,797 shares of the company's stock, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the firm's 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 sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Up 0.1 %

L3Harris Technologies stock traded up $0.11 during mid-day trading on Thursday, reaching $216.42. 1,946,724 shares of the company's stock were exchanged, compared to its average volume of 1,016,171. The company has a fifty day moving average of $209.80 and a 200-day moving average of $222.59. The company has a market cap of $40.63 billion, a P/E ratio of 27.50, a P/E/G ratio of 2.42 and a beta of 0.71. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.55 by ($0.14). L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The company had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. Sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.22%. L3Harris Technologies's dividend payout ratio is currently 60.99%.

Wall Street Analyst Weigh In

Several brokerages have commented on LHX. Morgan Stanley decreased 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. UBS Group increased their price target on L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. decreased their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their target price for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $257.50.

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.