Scotia Capital Inc. Purchases 152 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Scotia Capital Inc. boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,207 shares of the company’s stock after buying an additional 152 shares during the period. Scotia Capital Inc.’s holdings in L3Harris Technologies were worth $1,726,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LHX. Vanguard Group Inc. raised its stake in shares of L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after acquiring an additional 401,168 shares during the last quarter. Geode Capital Management LLC increased its holdings in L3Harris Technologies by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock valued at $1,004,418,000 after purchasing an additional 53,787 shares during the period. FMR LLC raised its position in L3Harris Technologies by 11.5% during the 4th quarter. FMR LLC now owns 2,261,999 shares of the company’s stock worth $475,653,000 after purchasing an additional 233,968 shares during the last quarter. Invesco Ltd. lifted its holdings in L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock worth $469,992,000 after buying an additional 522,861 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $398,507,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

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

L3Harris Technologies Trading Up 3.8 %

NYSE LHX opened at $221.67 on Friday. 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 52 week low of $193.09 and a 52 week high of $265.74. The business has a 50 day moving average price of $207.62 and a 200-day moving average price of $223.70. The company has a market cap of $41.61 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 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%. As a group, equities analysts expect 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 given a $1.20 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.17%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 60.99%.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $198.00 to $263.00 in a research note on Friday. Bank of America dropped their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Jefferies Financial Group decreased their price objective 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. Citigroup dropped their target price on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $256.94.

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.