L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by FIL Ltd

FIL Ltd raised its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 71.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,079 shares of the company's stock after purchasing an additional 94,990 shares during the quarter. FIL Ltd owned about 0.12% of L3Harris Technologies worth $47,750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of LHX. Morse Asset Management Inc purchased a new position in L3Harris Technologies in the 3rd quarter worth approximately $119,000. Orion Portfolio Solutions LLC lifted its position in shares of L3Harris Technologies by 1.4% during 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 boosted its stake in shares of 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 purchasing an additional 3,238 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in L3Harris Technologies by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 55,901 shares of the company's stock valued at $13,297,000 after purchasing an additional 2,216 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in L3Harris Technologies by 14.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 82,800 shares of the company's stock worth $19,696,000 after buying an additional 10,579 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

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L3Harris Technologies Stock Performance

Shares of NYSE LHX traded up $0.68 during mid-day trading on Monday, hitting $222.71. The company had a trading volume of 811,321 shares, compared to its average volume of 997,203. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock has a market cap of $41.81 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 2.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The firm's 50 day simple moving average is $207.62 and its two-hundred day simple moving average is $223.64.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (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%. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

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

Wall Street Analyst Weigh In

LHX has been the subject of a number of analyst reports. Susquehanna decreased their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. UBS Group raised their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Raymond James downgraded L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Barclays decreased their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Finally, The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and upped their price target for the company from $198.00 to $263.00 in a report on Friday. 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 has an average rating of "Moderate Buy" and a consensus price target of $256.94.

Insiders Place Their Bets

In related 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 sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction dated 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 transaction, the insider now owns 2,797 shares of the company's stock, valued at $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 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.