L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 10.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,311 shares of the company's stock after purchasing an additional 4,148 shares during the quarter. MML Investors Services LLC's holdings in L3Harris Technologies were worth $9,528,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in L3Harris Technologies in the 4th quarter valued at about $398,507,000. Invesco Ltd. raised its position in shares of L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after buying an additional 522,861 shares during the period. Vanguard Group Inc. grew its position in L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock worth $4,895,534,000 after acquiring an additional 401,168 shares during the period. Marshall Wace LLP increased its stake in L3Harris Technologies by 8,438.8% during the fourth quarter. Marshall Wace LLP now owns 249,162 shares of the company's stock worth $52,394,000 after acquiring an additional 246,244 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of L3Harris Technologies by 11.5% in the 4th quarter. FMR LLC now owns 2,261,999 shares of the company's stock valued at $475,653,000 after purchasing an additional 233,968 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LHX has been the topic of several research analyst reports. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their target price for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Bank of America decreased their price target on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and an average target price of $257.25.

L3Harris Technologies Stock Up 0.0 %

NYSE LHX traded up $0.10 on Friday, hitting $216.37. 1,637,041 shares of the stock were exchanged, compared to its average volume of 1,013,547. 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 50-day moving average price of $210.58 and a 200-day moving average price of $222.10. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market cap of $40.62 billion, a PE ratio of 27.49, a PEG ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.55 by ($0.14). The business had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.22%. L3Harris Technologies's dividend payout ratio (DPR) is presently 60.99%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company's stock, 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 currently owned by company insiders.

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.