Boston Partners Has $247.89 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Boston Partners raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 20.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,178,741 shares of the company’s stock after buying an additional 198,243 shares during the period. Boston Partners’ holdings in L3Harris Technologies were worth $247,893,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies in the 4th quarter worth approximately $27,000. Roxbury Financial LLC bought a new position in L3Harris Technologies in the 4th quarter worth approximately $30,000. Union Bancaire Privee UBP SA bought a new position in L3Harris Technologies in the 4th quarter worth approximately $33,000. New Millennium Group LLC raised its position in L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after purchasing an additional 163 shares during the last quarter. Finally, Trust Co. of Vermont raised its position in L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after purchasing an additional 86 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $212.46 on Wednesday. The firm has a market cap of $39.88 billion, a PE ratio of 27.00, a PEG ratio of 2.42 and a beta of 0.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a fifty day moving average price of $209.62 and a 200 day moving average price of $226.67.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.26%. L3Harris Technologies’s payout ratio is 60.99%.

Wall Street Analysts Forecast Growth

LHX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. UBS Group lifted their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Citigroup lowered their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $261.40.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the business’s 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 directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,098 shares of company stock valued at $1,760,588 in the last three months. 0.82% of the stock is currently owned by corporate 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.