Linden Thomas Advisory Services LLC Increases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Linden Thomas Advisory Services LLC boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,215 shares of the company’s stock after purchasing an additional 488 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in L3Harris Technologies were worth $1,730,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Morgan Stanley increased its position in shares of L3Harris Technologies by 1.9% in the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock worth $436,684,000 after acquiring an additional 47,691 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of L3Harris Technologies by 4.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock valued at $430,049,000 after purchasing an additional 82,423 shares during the last quarter. Northern Trust Corp lifted its position in L3Harris Technologies by 4.6% during the third quarter. Northern Trust Corp now owns 1,570,639 shares of the company’s stock worth $273,480,000 after purchasing an additional 68,545 shares during the period. Invesco Ltd. increased its position in L3Harris Technologies by 15.3% during the 3rd quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock valued at $254,187,000 after purchasing an additional 193,690 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its stake in L3Harris Technologies by 22.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock valued at $252,481,000 after acquiring an additional 266,468 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded down $1.41 during trading on Wednesday, reaching $206.27. The company’s stock had a trading volume of 404,882 shares, compared to its average volume of 1,104,748. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a market cap of $39.21 billion, a PE ratio of 32.24, a P/E/G ratio of 1.93 and a beta of 0.65. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The business’s 50-day moving average price is $210.23 and its 200-day moving average price is $200.95.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.04. The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.27 EPS. Equities analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.64 annualized dividend and a dividend yield of 2.25%. L3Harris Technologies’s payout ratio is 72.05%.

Insider Activity

In related news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now directly owns 28,644 shares in the company, valued at $6,057,346.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director William H. Swanson bought 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the transaction, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the sale, the insider now owns 28,644 shares in the company, valued at $6,057,346.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LHX shares. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Citigroup boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Raymond James boosted their target price on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. UBS Group upped their price target on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a research report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $229.60.

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.