Federated Hermes Inc. Grows Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Federated Hermes Inc. boosted its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,216 shares of the company's stock after purchasing an additional 2,598 shares during the period. Federated Hermes Inc.'s holdings in L3Harris Technologies were worth $5,302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after buying an additional 401,168 shares during the last quarter. Geode Capital Management LLC lifted its holdings in L3Harris Technologies by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock valued at $1,004,418,000 after purchasing an additional 53,787 shares during the last quarter. Raymond James Financial Inc. bought a new position in L3Harris Technologies during the fourth quarter worth about $398,507,000. Charles Schwab Investment Management Inc. increased its stake in shares of L3Harris Technologies by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company's stock worth $254,461,000 after purchasing an additional 32,979 shares in the last quarter. Finally, Boston Partners raised its position in shares of L3Harris Technologies by 20.2% in the fourth quarter. Boston Partners now owns 1,178,741 shares of the company's stock valued at $247,893,000 after purchasing an additional 198,243 shares during the period. 84.76% of the stock is owned by institutional investors.

Remove Ads

Insider Buying and Selling at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the company'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 transaction, the insider now 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 corporate insiders.

L3Harris Technologies Trading Down 0.8 %

L3Harris Technologies stock traded down $1.81 during trading hours on Tuesday, reaching $220.88. The company had a trading volume of 1,261,899 shares, compared to its average volume of 998,252. 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 12-month low of $193.09 and a 12-month high of $265.74. The company has a 50-day moving average price of $207.89 and a 200 day moving average price of $223.55. The firm has a market cap of $41.46 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 2.42 and a beta of 0.71.

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, 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 analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm 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. This represents a $4.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Monday, March 10th. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. L3Harris Technologies's payout ratio is currently 60.99%.

Analyst Upgrades and Downgrades

Several research firms recently commented on LHX. UBS Group raised their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock 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 research report on Thursday, January 2nd. JPMorgan Chase & Co. cut 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. Susquehanna cut their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $256.94.

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.