Charles Schwab Investment Management Inc. Boosts Position in L3Harris Technologies, Inc. (NYSE:LHX)

Charles Schwab Investment Management Inc. raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,188,115 shares of the company’s stock after purchasing an additional 58,553 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in L3Harris Technologies were worth $250,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Apollon Wealth Management LLC boosted its stake in shares of L3Harris Technologies by 4.0% during the 4th quarter. Apollon Wealth Management LLC now owns 16,731 shares of the company’s stock worth $3,524,000 after acquiring an additional 637 shares during the last quarter. Maryland State Retirement & Pension System raised its stake in shares of L3Harris Technologies by 1.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 14,720 shares of the company’s stock worth $3,100,000 after buying an additional 276 shares during the period. Private Advisor Group LLC grew its stake in shares of L3Harris Technologies by 79.2% during the 4th quarter. Private Advisor Group LLC now owns 12,382 shares of the company’s stock valued at $2,608,000 after acquiring an additional 5,473 shares during the period. MeadowBrook Investment Advisors LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth approximately $824,000. Finally, Summit Trail Advisors LLC raised its stake in L3Harris Technologies by 2.9% during the 4th quarter. Summit Trail Advisors LLC now owns 3,832 shares of the company’s stock worth $807,000 after acquiring an additional 108 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $215.88 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $40.95 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 1.88 and a beta of 0.63. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The firm’s 50-day moving average is $210.32 and its 200 day moving average is $203.41.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $2.86 EPS. Research analysts predict that L3Harris Technologies, Inc. will post 12.91 EPS for the current year.

L3Harris Technologies Dividend Announcement

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 Tuesday, June 4th. This represents a $4.64 annualized dividend and a dividend yield of 2.15%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Wall Street Analyst Weigh In

LHX has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Royal Bank of Canada boosted their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Citigroup upped their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $231.80.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 over the last 90 days. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies 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.