Invesco Ltd. Grows Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Invesco Ltd. grew its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 30.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,235,077 shares of the company's stock after purchasing an additional 522,861 shares during the period. Invesco Ltd. owned approximately 1.18% of L3Harris Technologies worth $469,992,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of L3Harris Technologies in the 4th quarter worth $398,507,000. Vanguard Group Inc. lifted its position in L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after purchasing an additional 401,168 shares during the period. FMR LLC increased its position in L3Harris Technologies by 11.5% during the 4th quarter. FMR LLC now owns 2,261,999 shares of the company's stock worth $475,653,000 after purchasing an additional 233,968 shares during the period. Boston Partners raised its stake in shares of L3Harris Technologies by 20.2% during the 4th quarter. Boston Partners now owns 1,178,741 shares of the company's stock worth $247,893,000 after buying an additional 198,243 shares in the last quarter. Finally, National Pension Service lifted its holdings in shares of L3Harris Technologies by 42.1% in the 4th quarter. National Pension Service now owns 606,047 shares of the company's stock valued at $127,440,000 after buying an additional 179,539 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts recently weighed in on LHX shares. Deutsche Bank Aktiengesellschaft dropped their price objective on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a report on Thursday, January 2nd. UBS Group increased their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a report on Friday, January 31st. JPMorgan Chase & Co. decreased their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Bank of America dropped their target price 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. Finally, Barclays decreased their price target on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, L3Harris Technologies currently has an average rating of "Moderate Buy" and an average price target of $256.94.

Insider Buying and Selling

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The shares were 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 $632,122. This trade represents a 53.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the company's 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 sale, the insider now owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Trading Up 0.8 %

NYSE:LHX traded up $1.77 on Monday, reaching $223.80. The stock had a trading volume of 261,756 shares, compared to its average volume of 993,370. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a market cap of $42.01 billion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 2.42 and a beta of 0.71. The firm's fifty day moving average is $207.62 and its two-hundred day moving average is $223.64. 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 (NYSE:LHX - Get Free Report) last announced its quarterly earnings data 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%. Equities analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $1.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.14%. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. 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.