JPMorgan Chase & Co. Raises Stake in L3Harris Technologies, Inc. (NYSE:LHX)

JPMorgan Chase & Co. grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 29.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 774,560 shares of the company's stock after buying an additional 178,407 shares during the period. JPMorgan Chase & Co. owned 0.41% of L3Harris Technologies worth $184,245,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC lifted its position in L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock valued at $1,883,000 after purchasing an additional 40 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in L3Harris Technologies by 2.7% during the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company's stock worth $385,000 after buying an additional 42 shares during the period. Blossom Wealth Management increased its position in L3Harris Technologies by 1.7% during the third quarter. Blossom Wealth Management now owns 2,538 shares of the company's stock valued at $604,000 after acquiring an additional 43 shares during the last quarter. Nicholas Hoffman & Company LLC. raised its stake in shares of L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company's stock valued at $322,000 after acquiring an additional 43 shares during the period. Finally, Archer Investment Corp boosted its stake in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock worth $31,000 after purchasing an additional 43 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Argus raised L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price target for the company in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating on the stock in a report on Thursday, October 3rd. Citigroup raised their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Royal Bank of Canada raised their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a "sector perform" rating in a report on Monday, October 28th. Finally, Truist Financial upped their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $269.13.

L3Harris Technologies Stock Up 0.6 %

LHX stock traded up $1.34 on Wednesday, hitting $210.28. 840,289 shares of the company's stock were exchanged, compared to its average volume of 902,441. The stock has a market cap of $39.88 billion, a P/E ratio of 33.22, a price-to-earnings-growth ratio of 1.86 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The firm has a 50 day moving average price of $236.77 and a two-hundred day moving average price of $234.13. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts' consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. The business's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies's payout ratio is currently 73.30%.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now directly owns 5,049 shares of the company's stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 7,889 shares of company stock valued at $1,800,572 in the last three months. 0.82% of the stock is currently owned by company insiders.

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.