Fmr LLC Purchases 233,968 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

FMR LLC raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,261,999 shares of the company's stock after acquiring an additional 233,968 shares during the quarter. FMR LLC owned about 1.19% of L3Harris Technologies worth $475,653,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Fortem Financial Group LLC acquired a new stake in shares of L3Harris Technologies in the third quarter worth about $841,000. Czech National Bank increased its position in L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company's stock worth $8,648,000 after buying an additional 2,480 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of 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 during the last quarter. Principal Financial Group Inc. boosted 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 acquiring an additional 4,321 shares during the period. Finally, Sanctuary Advisors LLC grew its stake in shares of L3Harris Technologies by 13.9% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock worth $7,602,000 after acquiring an additional 3,740 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Remove Ads

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now 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 disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. UBS Group raised their price target on shares of 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 objective on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Morgan Stanley cut their target price on 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. Truist Financial decreased their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, Susquehanna dropped 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 note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and fourteen have issued 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 $256.94.

L3Harris Technologies Price Performance

NYSE LHX traded up $0.69 during trading hours on Monday, reaching $222.72. 668,713 shares of the company's stock were exchanged, compared to its average volume of 995,023. The firm has a fifty day moving average of $207.62 and a 200-day moving average of $223.64. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The stock has a market cap of $41.81 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

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 return on equity of 13.11% and a net margin of 7.04%. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $1.20 dividend. The ex-dividend date was Monday, March 10th. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.16%. 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.