KCM Investment Advisors LLC Increases Position in L3Harris Technologies, Inc. (NYSE:LHX)

KCM Investment Advisors LLC grew its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 18.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,875 shares of the company's stock after buying an additional 3,602 shares during the period. KCM Investment Advisors LLC's holdings in L3Harris Technologies were worth $4,810,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LHX. Meeder Asset Management Inc. increased its holdings 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 acquiring an additional 82 shares in the last quarter. Millstone Evans Group LLC acquired a new position in L3Harris Technologies during the 4th quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $27,000. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at $30,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Buying and Selling

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares of the company's stock, valued at $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

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L3Harris Technologies Price Performance

LHX stock traded down $3.86 during mid-day trading on Thursday, reaching $210.49. The company's stock had a trading volume of 1,458,371 shares, compared to its average volume of 986,514. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a market cap of $39.51 billion, a PE ratio of 26.69, a P/E/G ratio of 2.42 and a beta of 0.71. The company's 50 day moving average is $207.38 and its two-hundred day moving average is $223.92.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $1.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.28%. L3Harris Technologies's dividend payout ratio is currently 60.99%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Jefferies Financial Group dropped their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Royal Bank of Canada reissued a "sector perform" rating and set a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Raymond James downgraded shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a "market perform" rating to an "outperform" rating and reduced their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $256.56.

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.