Great Lakes Advisors LLC Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

Great Lakes Advisors LLC raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 26,024 shares of the company’s stock after purchasing an additional 961 shares during the period. Great Lakes Advisors LLC’s holdings in L3Harris Technologies were worth $5,472,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LHX. KCM Investment Advisors LLC lifted its stake in shares of L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after acquiring an additional 5,868 shares during the last quarter. Fortem Financial Group LLC purchased a new stake in L3Harris Technologies in the third quarter worth $841,000. Czech National Bank lifted its position in shares of L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after purchasing an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the transaction, the insider now directly owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,862 shares of company stock worth $2,155,054 in the last three months. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX opened at $211.04 on Friday. The firm’s fifty day simple moving average is $209.23 and its two-hundred day simple moving average is $227.17. The firm has a market capitalization of $39.74 billion, a P/E ratio of 26.82, a P/E/G 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 12-month low of $193.09 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a $1.20 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 60.99%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LHX. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Tuesday, November 26th. UBS Group lifted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Morgan Stanley lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Citigroup reduced their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Bank of America lowered their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

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.