Franklin Resources Inc. Purchases 23,096 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Franklin Resources Inc. boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 10.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 241,324 shares of the company's stock after acquiring an additional 23,096 shares during the quarter. Franklin Resources Inc. owned 0.13% of L3Harris Technologies worth $50,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares during the period. Millstone Evans Group LLC purchased a new stake in L3Harris Technologies during the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies during the 4th quarter valued at $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies in the 4th quarter worth $30,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at about $33,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Susquehanna cut their target price on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company decreased their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday. Raymond James downgraded shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Morgan Stanley reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Finally, Bank of America lowered their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $259.06.

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L3Harris Technologies Stock Performance

L3Harris Technologies stock traded down $1.46 during midday trading on Thursday, reaching $212.89. 743,725 shares of the company traded hands, compared to its average volume of 983,902. 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 firm has a market capitalization of $39.96 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The business has a 50 day moving average of $207.38 and a two-hundred day moving average of $223.92.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared 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 of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.25%. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. L3Harris Technologies's payout ratio is presently 60.99%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a legal 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 that occurred 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 directly 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 disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

L3Harris Technologies Company 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.