Pinnacle Financial Partners Inc Grows Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Pinnacle Financial Partners Inc grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,355 shares of the company’s stock after purchasing an additional 67 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in L3Harris Technologies were worth $7,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC boosted its holdings in shares of L3Harris Technologies by 283.0% in the first quarter. Acadian Asset Management LLC now owns 1,103 shares of the company’s stock valued at $272,000 after acquiring an additional 815 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of L3Harris Technologies during the 1st quarter worth approximately $8,013,000. Sei Investments Co. lifted its holdings in shares of L3Harris Technologies by 14.2% in the 1st quarter. Sei Investments Co. now owns 62,374 shares of the company’s stock valued at $15,643,000 after buying an additional 7,773 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of L3Harris Technologies by 18.9% in the first quarter. Sequoia Financial Advisors LLC now owns 3,372 shares of the company’s stock valued at $838,000 after buying an additional 537 shares in the last quarter. Finally, Brighton Jones LLC grew its holdings in L3Harris Technologies by 16.7% during the first quarter. Brighton Jones LLC now owns 1,230 shares of the company’s stock worth $306,000 after acquiring an additional 176 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on LHX shares. Raymond James upped their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Truist Financial raised their price objective on L3Harris Technologies from $224.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. TheStreet upgraded L3Harris Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Citigroup raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $184.00 to $240.00 in a research report on Friday, December 15th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

Read Our Latest Report on LHX

L3Harris Technologies Trading Down 0.9 %

Shares of LHX stock traded down $1.86 on Tuesday, reaching $206.70. 335,895 shares of the stock were exchanged, compared to its average volume of 1,117,714. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34. The stock has a market cap of $39.30 billion, a P/E ratio of 32.21, a price-to-earnings-growth ratio of 1.98 and a beta of 0.65. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $211.26 and a two-hundred day moving average of $197.17.

L3Harris Technologies (NYSE:LHXGet Free Report) last released its quarterly earnings data on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the business posted $3.27 EPS. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $1.16 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Thursday, March 7th. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

Insider Buying and Selling at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the sale, the senior vice president now owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. Insiders have sold 48,362 shares of company stock valued at $10,261,360 over the last three months. 0.87% of the stock is owned by company insiders.

L3Harris Technologies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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