Vanguard Group Inc. Buys 2,606,267 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Vanguard Group Inc. boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 12.9% during the 1st quarter, HoldingsChannel reports. The fund owned 22,792,779 shares of the company’s stock after acquiring an additional 2,606,267 shares during the quarter. Vanguard Group Inc. owned about 0.12% of L3Harris Technologies worth $4,857,141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cross Staff Investments Inc boosted its position in L3Harris Technologies by 12.4% during the 4th quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock worth $302,000 after acquiring an additional 158 shares during the last quarter. Boston Partners grew its position in L3Harris Technologies by 107.2% in the fourth quarter. Boston Partners now owns 813,558 shares of the company’s stock valued at $171,343,000 after purchasing an additional 420,943 shares in the last quarter. Victory Capital Management Inc. increased its stake in L3Harris Technologies by 40.0% in the 4th quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock valued at $22,374,000 after buying an additional 30,358 shares during the last quarter. Stifel Financial Corp lifted its position in L3Harris Technologies by 3.9% during the 4th quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock worth $37,057,000 after buying an additional 6,675 shares in the last quarter. Finally, Scout Investments Inc. lifted its position in L3Harris Technologies by 59.4% during the 4th quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock worth $7,588,000 after buying an additional 13,423 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the transaction, the vice president now owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares in the company, valued at approximately $26,766,518.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,312 shares of company stock valued at $24,712,822. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

LHX traded down $2.99 on Friday, hitting $234.77. 643,164 shares of the stock were exchanged, compared to its average volume of 800,777. The business has a 50-day moving average of $224.64 and a two-hundred day moving average of $214.96. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $242.86. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The firm has a market capitalization of $44.53 billion, a price-to-earnings ratio of 38.11, a PEG ratio of 1.95 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the previous year, the business earned $2.86 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 12.99 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Analyst Ratings Changes

A number of research analysts have weighed in on LHX shares. Barclays raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Royal Bank of Canada boosted their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research note on Monday, April 22nd. Wells Fargo & Company boosted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $231.80.

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.