Keybank National Association OH Increases Position in L3Harris Technologies, Inc. (NYSE:LHX)

Keybank National Association OH raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 17.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,621 shares of the company’s stock after buying an additional 2,343 shares during the period. Keybank National Association OH’s holdings in L3Harris Technologies were worth $3,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of LHX. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies during the 4th quarter valued at about $27,000. Roxbury Financial LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $30,000. Archer Investment Corp boosted its stake in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies during the 4th quarter worth approximately $33,000. Finally, Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies in the third quarter valued at $36,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the transaction, the insider now owns 8,576 shares in the company, valued at $1,917,765.12. The trade was a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 4,901 shares of company stock valued at $1,059,757. Insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on LHX. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Truist Financial reduced their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. UBS Group boosted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Bank of America reduced their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Morgan Stanley lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $261.47.

L3Harris Technologies Trading Up 1.6 %

NYSE:LHX opened at $213.82 on Friday. The company has a market capitalization of $40.26 billion, a PE ratio of 27.17, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The stock’s 50 day moving average price is $208.78 and its 200 day moving average price is $227.73. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a $1.20 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.24%. L3Harris Technologies’s payout ratio is currently 60.99%.

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.