Vanguard Group Inc. Acquires 2,692,771 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Vanguard Group Inc. grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 15.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,186,512 shares of the company’s stock after buying an additional 2,692,771 shares during the period. Vanguard Group Inc. owned 10.62% of L3Harris Technologies worth $4,251,683,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp purchased a new position in shares of L3Harris Technologies in the 3rd quarter worth about $476,000. Deutsche Bank AG raised its position in shares of L3Harris Technologies by 6.7% in the 3rd quarter. Deutsche Bank AG now owns 269,794 shares of the company’s stock worth $46,977,000 after purchasing an additional 16,890 shares during the last quarter. Fiera Capital Corp raised its position in shares of L3Harris Technologies by 2.4% in the 3rd quarter. Fiera Capital Corp now owns 2,812 shares of the company’s stock worth $490,000 after purchasing an additional 65 shares during the last quarter. Kestra Advisory Services LLC raised its position in shares of L3Harris Technologies by 210.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 29,188 shares of the company’s stock worth $5,082,000 after purchasing an additional 19,793 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its position in shares of L3Harris Technologies by 8.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 41,310 shares of the company’s stock worth $7,193,000 after purchasing an additional 3,144 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,086,585.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total value of $5,627,750.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,086,585.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,190 shares of company stock worth $25,588,883. 0.87% of the stock is owned by company insiders.

L3Harris Technologies Trading Up 1.5 %

Shares of NYSE:LHX opened at $220.79 on Tuesday. The stock has a 50 day moving average of $215.96 and a 200 day moving average of $211.27. The company has a market cap of $41.88 billion, a PE ratio of 35.84, a price-to-earnings-growth ratio of 1.83 and a beta of 0.71. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $226.99.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.86 EPS. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 12.89 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.10%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. boosted their target price on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Barclays boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research report on Monday, April 22nd. Finally, Royal Bank of Canada boosted their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $231.80.

L3Harris Technologies 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.