Geode Capital Management LLC Purchases 53,787 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Geode Capital Management LLC grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,788,619 shares of the company's stock after purchasing an additional 53,787 shares during the period. Geode Capital Management LLC owned approximately 2.52% of L3Harris Technologies worth $1,004,418,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Measured Wealth Private Client Group LLC lifted its holdings in L3Harris Technologies by 5.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company's stock valued at $200,000 after acquiring an additional 50 shares during the period. Premier Path Wealth Partners LLC lifted its stake in shares of L3Harris Technologies by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company's stock valued at $328,000 after purchasing an additional 51 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in L3Harris Technologies by 2.2% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company's stock worth $514,000 after buying an additional 53 shares in the last quarter. Klingman & Associates LLC increased its holdings in L3Harris Technologies by 2.8% in the fourth quarter. Klingman & Associates LLC now owns 1,933 shares of the company's stock valued at $406,000 after buying an additional 53 shares in the last quarter. Finally, Zullo Investment Group Inc. increased its holdings in L3Harris Technologies by 3.2% in the fourth quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company's stock valued at $361,000 after buying an additional 54 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

L3Harris Technologies Stock Performance

LHX stock traded down $3.28 during trading on Monday, hitting $198.78. 834,447 shares of the company's stock traded hands, compared to its average volume of 963,898. The stock has a fifty day moving average price of $208.20 and a two-hundred day moving average price of $224.76. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The stock has a market capitalization of $37.31 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating 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, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. L3Harris Technologies's dividend payout ratio is currently 60.99%.

Insiders Place Their Bets

In related news, insider Jon Rambeau sold 3,178 shares of the 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 transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of 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. Insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Citigroup lowered their price target on L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Jefferies Financial Group cut their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Raymond James cut shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. Susquehanna cut their target price 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, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a research note on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $260.69.

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.