The Manufacturers Life Insurance Company Acquires 20,808 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

The Manufacturers Life Insurance Company lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 455,095 shares of the company’s stock after buying an additional 20,808 shares during the period. The Manufacturers Life Insurance Company owned about 0.24% of L3Harris Technologies worth $108,253,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Horizon Kinetics Asset Management LLC increased its holdings in shares of L3Harris Technologies by 70.4% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 16,605 shares of the company’s stock worth $3,950,000 after buying an additional 6,861 shares during the last quarter. Truvestments Capital LLC increased its holdings in shares of L3Harris Technologies by 12.5% in the 3rd quarter. Truvestments Capital LLC now owns 13,208 shares of the company’s stock worth $3,142,000 after buying an additional 1,465 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of L3Harris Technologies by 12.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 530 shares of the company’s stock worth $126,000 after buying an additional 60 shares during the last quarter. DRW Securities LLC bought a new position in L3Harris Technologies during the 3rd quarter valued at about $426,000. Finally, Fisher Asset Management LLC grew its holdings in L3Harris Technologies by 16.5% during the 3rd quarter. Fisher Asset Management LLC now owns 1,555 shares of the company’s stock valued at $370,000 after purchasing an additional 220 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

Shares of LHX opened at $245.57 on Wednesday. The company has a 50 day moving average price of $245.35 and a 200-day moving average price of $233.72. L3Harris Technologies, Inc. has a fifty-two week low of $187.37 and a fifty-two week high of $265.74. The stock has a market capitalization of $46.58 billion, a PE ratio of 38.79, a PEG ratio of 2.01 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.19 EPS. Equities analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.89%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the transaction, the insider now owns 13,328 shares in the company, valued at approximately $3,261,095.04. This represents a 18.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 8,964 shares of company stock worth $2,179,119 in the last 90 days. 0.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Truist Financial upped their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada upped their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company upped their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $269.67.

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.