Essential Planning LLC. Acquires Shares of 8,494 L3Harris Technologies, Inc. (NYSE:LHX)

Essential Planning LLC. purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,494 shares of the company's stock, valued at approximately $1,786,000.

Other large investors have also made changes to their positions in the company. KCM Investment Advisors LLC grew its position in shares of L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company's stock valued at $4,584,000 after purchasing an additional 5,868 shares in the last quarter. Fortem Financial Group LLC purchased a new stake in shares of L3Harris Technologies in the third quarter valued at approximately $841,000. Czech National Bank grew its position in shares of L3Harris Technologies by 6.4% in the fourth 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 shares of L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock valued at $184,245,000 after purchasing an additional 178,407 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock valued at $52,395,000 after purchasing an additional 4,321 shares in 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 L3Harris Technologies 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 completion of the sale, the insider now directly owns 2,797 shares of the company's stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the sale, the insider now directly owns 8,576 shares of the company's stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,862 shares of company stock worth $2,155,054 over the last 90 days. Corporate insiders own 0.82% of the company's stock.

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L3Harris Technologies Stock Up 0.1 %

Shares of NYSE:LHX traded up $0.24 during trading on Friday, hitting $211.42. The company's stock had a trading volume of 960,650 shares, compared to its average volume of 923,924. The business has a 50 day moving average price of $209.26 and a two-hundred day moving average price of $227.02. The company has a market capitalization of $39.69 billion, a PE ratio of 26.86, 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, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate 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, research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a $1.20 dividend. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.27%. L3Harris Technologies's payout ratio is 60.99%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LHX. Susquehanna dropped their price target on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. UBS Group upped their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Raymond James cut L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Morgan Stanley decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a "market perform" rating to an "outperform" rating and decreased their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $261.40.

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.