Martingale Asset Management L P Has $10.20 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Martingale Asset Management L P boosted its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 33.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,513 shares of the company's stock after buying an additional 12,222 shares during the quarter. Martingale Asset Management L P's holdings in L3Harris Technologies were worth $10,201,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in L3Harris Technologies in the fourth quarter valued at $398,507,000. Invesco Ltd. boosted its position in L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after purchasing an additional 522,861 shares during the last quarter. Vanguard Group Inc. grew its stake 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 in the last quarter. FMR LLC raised its stake in shares of 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 in the last quarter. Finally, Boston Partners grew its stake in shares of L3Harris Technologies by 20.2% in the fourth quarter. Boston Partners now owns 1,178,741 shares of the company's stock valued at $247,893,000 after buying an additional 198,243 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, 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. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of LHX stock traded down $0.42 during trading hours on Tuesday, reaching $222.27. The company's stock had a trading volume of 441,606 shares, compared to its average volume of 995,140. 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 fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a market capitalization of $41.72 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 2.42 and a beta of 0.71. The firm's 50 day simple moving average is $207.89 and its 200-day simple moving average is $223.55.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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%. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on LHX shares. Citigroup dropped their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. UBS Group raised their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Wells Fargo & Company lowered their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group reduced their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Susquehanna reduced their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $256.94.

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.