First Trust Advisors LP Increases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

First Trust Advisors LP boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 271,415 shares of the company's stock after buying an additional 16,417 shares during the quarter. First Trust Advisors LP owned 0.14% of L3Harris Technologies worth $57,073,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Czech National Bank raised its holdings in 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 acquiring an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of L3Harris Technologies by 29.9% in the 3rd 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. Principal Financial Group Inc. lifted its position in shares of L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock worth $52,395,000 after purchasing an additional 4,321 shares during the last quarter. Oliver Luxxe Assets LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth $3,954,000. Finally, BankPlus Wealth Management LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth $409,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Activity

In other news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 6th. The shares were 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 of the company's stock, valued at $6,475,517.60. The trade was a 5.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on 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 owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on LHX. Truist Financial dropped their target price on shares of L3Harris Technologies from $274.00 to $264.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Bank of America cut their target price on 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 decreased their target price on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a research report on Thursday, January 2nd. Sanford C. Bernstein upgraded L3Harris Technologies from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Finally, UBS Group boosted their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $257.50.

L3Harris Technologies Price Performance

LHX opened at $214.88 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company's 50-day moving average price is $209.44 and its 200 day moving average price is $222.63. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm has a market cap of $40.34 billion, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its 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, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's payout ratio is currently 60.99%.

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.

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