Dorsey & Whitney Trust CO LLC Increases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Dorsey & Whitney Trust CO LLC lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,134 shares of the company’s stock after acquiring an additional 149 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in L3Harris Technologies were worth $659,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. KCM Investment Advisors LLC raised its holdings 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 valued at $4,584,000 after buying an additional 5,868 shares during the period. Fortem Financial Group LLC acquired a new stake in L3Harris Technologies during the 3rd quarter valued at approximately $841,000. Czech National Bank grew its stake in L3Harris Technologies by 6.4% during the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after purchasing an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. grew its stake in L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after purchasing an additional 178,407 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after purchasing an additional 4,321 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the sale, the insider now owns 8,576 shares of the company’s stock, valued at $1,917,765.12. The trade was a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 4,901 shares of company stock valued at $1,059,757 in the last quarter. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Trading Up 3.1 %

Shares of NYSE LHX opened at $220.47 on Monday. The company has a market cap of $41.52 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock’s 50 day simple moving average is $208.94 and its 200 day simple moving average is $227.63.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.18%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is presently 60.99%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup lowered their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Tuesday, November 26th. Royal Bank of Canada restated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. UBS Group raised their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Barclays lowered their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $261.40.

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.