L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 64.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 740,400 shares of the company’s stock after purchasing an additional 289,514 shares during the quarter. Deutsche Bank AG’s holdings in L3Harris Technologies were worth $155,691,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in L3Harris Technologies by 2.0% in 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. Diversified Trust Co boosted its stake in shares of L3Harris Technologies by 65.2% in the fourth quarter. Diversified Trust Co now owns 1,802 shares of the company’s stock valued at $379,000 after buying an additional 711 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in L3Harris Technologies by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,261 shares of the company’s stock worth $8,676,000 after acquiring an additional 447 shares during the period. Harbor Capital Advisors Inc. raised its position in L3Harris Technologies by 2.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,919 shares of the company’s stock worth $1,034,000 after acquiring an additional 113 shares in the last quarter. Finally, Czech National Bank boosted its position in shares of L3Harris Technologies by 6.4% during the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after purchasing an additional 2,480 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Morgan Stanley reduced their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and upped their target price for the company from $198.00 to $263.00 in a report on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.56.

Insider Activity

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated 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 directly owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $219.15 on Friday. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company’s 50 day simple moving average is $213.93 and its 200 day simple moving average is $220.37. The company has a market capitalization of $40.97 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 2.42 and a beta of 0.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.06 EPS. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is 56.94%.

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.