Principal Financial Group Inc. Buys 4,321 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Principal Financial Group Inc. grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,269 shares of the company's stock after buying an additional 4,321 shares during the quarter. Principal Financial Group Inc. owned 0.12% of L3Harris Technologies worth $52,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. KCM Investment Advisors LLC boosted its position in L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company's stock worth $4,584,000 after purchasing an additional 5,868 shares during the last quarter. Fortem Financial Group LLC bought a new stake in L3Harris Technologies during the third quarter valued at approximately $841,000. Sanctuary Advisors LLC increased its holdings in L3Harris Technologies by 13.9% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock valued at $7,602,000 after buying an additional 3,740 shares during the last quarter. Creative Planning raised its position in L3Harris Technologies by 1.2% in the third quarter. Creative Planning now owns 41,588 shares of the company's stock worth $9,893,000 after acquiring an additional 512 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter worth $35,904,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on LHX shares. Royal Bank of Canada upped their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a "sector perform" rating in a research note on Monday, October 28th. StockNews.com raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Truist Financial boosted their price objective on L3Harris Technologies from $293.00 to $300.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating on the stock in a research note on Thursday, October 3rd. Finally, Wolfe Research upgraded shares of L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 price target for the company in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $269.13.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded down $0.52 during midday trading on Monday, reaching $213.03. 861,242 shares of the stock traded hands, compared to its average volume of 923,206. The company's 50 day moving average is $242.42 and its 200 day moving average is $234.69. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a market capitalization of $40.40 billion, a PE ratio of 33.65, a P/E/G ratio of 1.91 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts' consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.28 billion. During the same period last year, the company posted $3.19 EPS. The business's revenue was up 7.7% on a year-over-year basis. On average, equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies's dividend payout ratio (DPR) is 73.30%.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 7,740 shares of company stock valued at $1,866,384. 0.82% of the stock is currently owned by insiders.

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.