Royal London Asset Management Ltd. Buys 3,563 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Royal London Asset Management Ltd. raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,558 shares of the company's stock after buying an additional 3,563 shares during the quarter. Royal London Asset Management Ltd.'s holdings in L3Harris Technologies were worth $20,827,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Park Avenue Securities LLC raised its position in shares of L3Harris Technologies by 9.7% in the 2nd quarter. Park Avenue Securities LLC now owns 5,350 shares of the company's stock worth $1,202,000 after purchasing an additional 472 shares during the last quarter. Simplicity Wealth LLC boosted its stake in shares of L3Harris Technologies by 3.5% in the 2nd quarter. Simplicity Wealth LLC now owns 2,796 shares of the company's stock worth $628,000 after buying an additional 94 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in shares of L3Harris Technologies by 5.1% in the 2nd quarter. Capital Investment Advisors LLC now owns 5,483 shares of the company's stock worth $1,231,000 after buying an additional 267 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of L3Harris Technologies by 3.4% in the second quarter. QRG Capital Management Inc. now owns 2,514 shares of the company's stock worth $565,000 after acquiring an additional 83 shares during the period. Finally, Gateway Investment Advisers LLC purchased a new stake in L3Harris Technologies during the second quarter valued at $203,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now owns 13,328 shares in the company, valued at approximately $3,261,095.04. The trade was a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LHX has been the subject of several research reports. Wells Fargo & Company upped their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Citigroup boosted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Morgan Stanley downgraded shares of L3Harris Technologies from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Bank of America upgraded L3Harris Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Finally, Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, L3Harris Technologies has an average rating of "Moderate Buy" and an average price target of $269.67.

L3Harris Technologies Price Performance

LHX traded down $3.50 during trading on Friday, reaching $234.64. 1,470,153 shares of the company traded hands, compared to its average volume of 824,430. The company has a market cap of $44.50 billion, a P/E ratio of 37.06, a PEG ratio of 2.01 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a 12-month low of $193.34 and a 12-month high of $265.74. The firm has a fifty day simple moving average of $246.70 and a 200 day simple moving average of $234.56.

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

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a $1.16 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.98%. L3Harris Technologies's dividend payout ratio is currently 73.30%.

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.