Umpqua Bank Has $759,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Umpqua Bank raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,532 shares of the company’s stock after purchasing an additional 311 shares during the period. Umpqua Bank’s holdings in L3Harris Technologies were worth $759,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in L3Harris Technologies during the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies in the 4th quarter valued at approximately $27,000. Roxbury Financial LLC acquired a new stake in L3Harris Technologies during the 4th quarter valued at approximately $30,000. Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies during the 4th quarter valued at approximately $33,000. Finally, New Millennium Group LLC grew its position in shares of L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after buying an additional 163 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 0.8 %

L3Harris Technologies stock opened at $208.15 on Friday. The stock has a market cap of $39.07 billion, a P/E ratio of 26.45, a PEG ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The firm’s 50 day moving average price is $209.80 and its 200-day moving average price is $226.26.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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%. On average, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $1.20 dividend. The ex-dividend date was Monday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.31%. L3Harris Technologies’s payout ratio is currently 60.99%.

Wall Street Analyst Weigh In

LHX has been the subject of several research reports. Morgan Stanley reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. UBS Group lifted their target price on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Susquehanna dropped their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. decreased their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $261.40.

Insiders Place Their Bets

In other news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,098 shares of company stock worth $1,760,588. 0.72% of the stock is owned by corporate insiders.

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.