Advisors Asset Management Inc. Buys 5,606 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Advisors Asset Management Inc. boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 22.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,479 shares of the company’s stock after acquiring an additional 5,606 shares during the period. Advisors Asset Management Inc.’s holdings in L3Harris Technologies were worth $6,409,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LHX. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies during the fourth quarter worth about $27,000. Roxbury Financial LLC purchased a new stake in L3Harris Technologies in the fourth quarter valued at approximately $30,000. Union Bancaire Privee UBP SA purchased a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $33,000. New Millennium Group LLC raised its position in L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after purchasing an additional 163 shares during the period. Finally, Trust Co. of Vermont grew its position in L3Harris Technologies by 78.9% during the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after acquiring an additional 86 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.2 %

Shares of NYSE LHX opened at $212.46 on Wednesday. The company has a 50 day simple moving average of $209.62 and a 200-day simple moving average of $226.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company has a market capitalization of $39.88 billion, a P/E ratio of 27.00, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its 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%. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently announced 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 represents a $4.80 dividend on an annualized basis and a dividend yield of 2.26%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,098 shares of company stock worth $1,760,588. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Tuesday, November 26th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Bank of America cut their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company reduced their price objective on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.