L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 34.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,416,904 shares of the company’s stock after buying an additional 1,138,549 shares during the quarter. Wellington Management Group LLP owned about 2.32% of L3Harris Technologies worth $930,288,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Van ECK Associates Corp acquired a new stake in shares of L3Harris Technologies during the third quarter valued at about $476,000. Deutsche Bank AG grew its position in shares of L3Harris Technologies by 6.7% during the third quarter. Deutsche Bank AG now owns 269,794 shares of the company’s stock worth $46,977,000 after buying an additional 16,890 shares in the last quarter. Fiera Capital Corp increased its stake in shares of L3Harris Technologies by 2.4% in the third quarter. Fiera Capital Corp now owns 2,812 shares of the company’s stock worth $490,000 after buying an additional 65 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in L3Harris Technologies by 210.7% in the third quarter. Kestra Advisory Services LLC now owns 29,188 shares of the company’s stock valued at $5,082,000 after acquiring an additional 19,793 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in L3Harris Technologies by 8.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 41,310 shares of the company’s stock valued at $7,193,000 after acquiring an additional 3,144 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded down $1.73 on Friday, hitting $217.47. The company’s stock had a trading volume of 434,586 shares, compared to its average volume of 691,097. The company has a market capitalization of $41.25 billion, a price-to-earnings ratio of 35.30, a price-to-earnings-growth ratio of 1.83 and a beta of 0.71. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $226.99. The stock’s 50-day moving average is $215.71 and its two-hundred day moving average is $211.05.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same quarter in the prior year, the firm posted $2.86 EPS. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 12.89 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.13%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 3,363 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $212.86, for a total value of $715,848.18. Following the completion of the sale, the senior vice president now directly owns 55,254 shares of the company’s stock, valued at approximately $11,761,366.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Scott T. Mikuen sold 3,363 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $212.86, for a total transaction of $715,848.18. Following the completion of the sale, the senior vice president now directly owns 55,254 shares of the company’s stock, valued at approximately $11,761,366.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares in the company, valued at $27,157,578.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,553 shares of company stock valued at $26,304,731. 0.82% of the stock is owned by corporate insiders.

About L3Harris Technologies

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.