Dearborn Partners LLC Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Dearborn Partners LLC boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 29.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,110 shares of the company’s stock after purchasing an additional 253 shares during the period. Dearborn Partners LLC’s holdings in L3Harris Technologies were worth $234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $398,507,000. National Pension Service boosted its holdings in L3Harris Technologies by 42.1% in the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock valued at $127,440,000 after acquiring an additional 179,539 shares in the last quarter. JPMorgan Chase & Co. increased its position in L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after purchasing an additional 178,407 shares during the period. Mizuho Markets Americas LLC raised its holdings in L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after purchasing an additional 166,262 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of L3Harris Technologies by 132.4% in the 4th quarter. Victory Capital Management Inc. now owns 280,540 shares of the company’s stock worth $58,992,000 after purchasing an additional 159,806 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

LHX has been the topic of several research analyst reports. Truist Financial reduced their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft reduced their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Citigroup lowered their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Barclays lowered their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the sale, the insider now owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 9,862 shares of company stock valued at $2,155,054 over the last three months. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $212.58 on Wednesday. The firm has a market cap of $40.03 billion, a P/E ratio of 27.01, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. 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 50 day moving average of $209.17 and a 200 day moving average of $227.41.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate 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, research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be paid a $1.20 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.26%. L3Harris Technologies’s payout ratio is currently 60.99%.

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.