Geode Capital Management LLC Acquires 53,787 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Geode Capital Management LLC raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 4,788,619 shares of the company’s stock after buying an additional 53,787 shares during the quarter. Geode Capital Management LLC’s holdings in L3Harris Technologies were worth $1,004,418,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LHX. Public Sector Pension Investment Board increased its position in shares of L3Harris Technologies by 15.3% during the third quarter. Public Sector Pension Investment Board now owns 8,308 shares of the company’s stock valued at $1,976,000 after buying an additional 1,100 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in L3Harris Technologies during the 3rd quarter valued at approximately $147,000. Benjamin Edwards Inc. raised its position in shares of L3Harris Technologies by 605.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 11,175 shares of the company’s stock worth $2,659,000 after acquiring an additional 9,590 shares in the last quarter. Cinctive Capital Management LP purchased a new position in shares of L3Harris Technologies in the 3rd quarter valued at approximately $1,220,000. Finally, Hilltop Holdings Inc. bought a new stake in shares of L3Harris Technologies during the third quarter valued at approximately $329,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 1.0 %

Shares of L3Harris Technologies stock opened at $211.93 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a market cap of $39.78 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The company’s 50 day moving average is $208.73 and its 200 day moving average is $225.14.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.26%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Insider Transactions at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LHX. Truist Financial decreased their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. dropped their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Jefferies Financial Group reduced their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Monday. Finally, Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $260.69.

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.