Vanguard Group Inc. Has $4.90 Billion Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Vanguard Group Inc. raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,281,023 shares of the company’s stock after purchasing an additional 401,168 shares during the period. Vanguard Group Inc. owned approximately 12.27% of L3Harris Technologies worth $4,895,534,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LHX. Stevens Capital Management LP acquired a new position in shares of L3Harris Technologies during the 4th quarter worth $373,000. LPL Financial LLC grew its position in L3Harris Technologies by 2.6% in the fourth quarter. LPL Financial LLC now owns 226,199 shares of the company’s stock valued at $47,565,000 after acquiring an additional 5,746 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in L3Harris Technologies during the fourth quarter worth about $1,943,000. AXQ Capital LP acquired a new position in L3Harris Technologies during the fourth quarter worth about $583,000. Finally, Umpqua Bank lifted its holdings in shares of L3Harris Technologies by 9.7% in the fourth quarter. Umpqua Bank now owns 3,532 shares of the company’s stock worth $759,000 after acquiring an additional 311 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LHX. Susquehanna lowered their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price target for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Bank of America cut their price target 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, Barclays lowered their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $261.40.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $210.88 on Tuesday. The stock’s 50 day moving average price is $209.74 and its two-hundred day moving average price is $225.98. The stock has a market capitalization of $39.59 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results 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 net margin of 7.04% and a return on equity of 13.11%. On average, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Insider Activity

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now owns 5,049 shares in the company, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,334 shares of company stock worth $1,383,709 over the last quarter. 0.72% of the stock is currently 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.