LPL Financial LLC Purchases 5,746 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

LPL Financial LLC lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.6% during the fourth quarter, HoldingsChannel reports. The firm owned 226,199 shares of the company’s stock after buying an additional 5,746 shares during the quarter. LPL Financial LLC’s holdings in L3Harris Technologies were worth $47,565,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new position in L3Harris Technologies during the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at about $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at about $30,000. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies during the 4th quarter worth approximately $33,000. Finally, New Millennium Group LLC raised its holdings in 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. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $212.86 on Friday. The company has a market cap of $39.96 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.42 and a beta of 0.74. 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 company’s fifty day simple moving average is $209.55 and its 200 day simple moving average is $225.69. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) 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, research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is 60.99%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,334 shares of company stock valued at $1,383,709 in the last quarter. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on LHX. 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 report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Barclays cut their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, Truist Financial reduced their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently 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.