The Manufacturers Life Insurance Company Buys 20,808 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

The Manufacturers Life Insurance Company boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 455,095 shares of the company's stock after purchasing an additional 20,808 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.24% of L3Harris Technologies worth $108,253,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC lifted its stake in shares of L3Harris Technologies by 0.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock worth $1,883,000 after acquiring an additional 40 shares during the last quarter. Koshinski Asset Management Inc. raised its position in L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company's stock worth $385,000 after buying an additional 42 shares during the last quarter. RFG Advisory LLC boosted its stake in shares of L3Harris Technologies by 3.1% in the second quarter. RFG Advisory LLC now owns 1,416 shares of the company's stock worth $318,000 after buying an additional 43 shares during the last quarter. Blossom Wealth Management increased its stake in shares of L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company's stock valued at $604,000 after purchasing an additional 43 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. lifted its holdings in L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company's stock valued at $322,000 after purchasing an additional 43 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LHX has been the topic of a number of research analyst reports. StockNews.com upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Monday, October 28th. Truist Financial increased their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Wolfe Research upgraded shares of L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective on the stock in a research report on Tuesday. Finally, Citigroup increased their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. 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 currently has an average rating of "Moderate Buy" and an average target price of $269.67.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the sale, the insider now owns 16,316 shares of the company's stock, valued at $3,861,670.88. This trade represents a 15.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 8,964 shares of company stock worth $2,179,119. Insiders own 0.82% of the company's stock.

L3Harris Technologies Stock Performance

LHX stock traded down $0.32 on Wednesday, reaching $245.26. 551,520 shares of the company were exchanged, compared to its average volume of 908,534. L3Harris Technologies, Inc. has a 12 month low of $187.68 and a 12 month high of $265.74. The firm has a market capitalization of $46.52 billion, a PE ratio of 38.75, a PEG ratio of 2.01 and a beta of 0.72. The stock's fifty day moving average price is $245.66 and its 200 day moving average price is $233.80. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating 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 firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the business earned $3.19 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies's dividend payout ratio (DPR) is currently 73.30%.

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.