Cerity Partners LLC Grows Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Cerity Partners LLC raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,460 shares of the company's stock after purchasing an additional 1,769 shares during the period. Cerity Partners LLC's holdings in L3Harris Technologies were worth $12,764,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morse Asset Management Inc acquired a new position in L3Harris Technologies in the third quarter valued at $119,000. Orion Portfolio Solutions LLC increased its holdings in L3Harris Technologies by 1.4% in the third quarter. Orion Portfolio Solutions LLC now owns 11,094 shares of the company's stock worth $2,639,000 after purchasing an additional 155 shares in the last quarter. MML Investors Services LLC lifted its stake in L3Harris Technologies by 8.5% in the third quarter. MML Investors Services LLC now owns 41,163 shares of the company's stock valued at $9,791,000 after buying an additional 3,238 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of L3Harris Technologies by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 55,901 shares of the company's stock valued at $13,297,000 after acquiring an additional 2,216 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in L3Harris Technologies by 14.6% in the third quarter. Public Employees Retirement System of Ohio now owns 82,800 shares of the company's stock worth $19,696,000 after purchasing an additional 10,579 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 0.1 %

L3Harris Technologies stock traded down $0.16 during trading hours on Tuesday, reaching $222.53. The stock had a trading volume of 367,426 shares, compared to its average volume of 994,808. The stock has a market cap of $41.77 billion, a PE ratio of 28.28, a PEG ratio of 2.42 and a beta of 0.71. The company has a fifty day simple moving average of $207.89 and a 200-day simple moving average of $223.55. 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 52 week low of $193.09 and a 52 week high of $265.74.

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

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.16%. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies's dividend payout ratio is presently 60.99%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the business'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 directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the company'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 transaction of $718,228.00. Following the completion of 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 position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Bank of America decreased their price objective on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Morgan Stanley reduced their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Jefferies Financial Group dropped their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. UBS Group raised their target price on L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $256.94.

L3Harris Technologies 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.