National Pension Service raised its stake in L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 311,327 shares of the company’s stock after acquiring an additional 3,966 shares during the quarter. National Pension Service owned approximately 0.16% of L3Harris Technologies worth $65,176,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. LVW Advisors LLC boosted its position in L3Harris Technologies by 1.5% in the third quarter. LVW Advisors LLC now owns 13,688 shares of the company’s stock valued at $2,845,000 after buying an additional 203 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of L3Harris Technologies by 16.3% during the 3rd quarter. Greenleaf Trust now owns 3,595 shares of the company’s stock valued at $747,000 after acquiring an additional 503 shares in the last quarter. Envestnet Asset Management Inc. grew its position in L3Harris Technologies by 1.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 297,593 shares of the company’s stock worth $61,849,000 after acquiring an additional 5,303 shares during the last quarter. Brighton Jones LLC increased its holdings in L3Harris Technologies by 15.4% in the 3rd quarter. Brighton Jones LLC now owns 1,186 shares of the company’s stock worth $246,000 after purchasing an additional 158 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its position in L3Harris Technologies by 7.6% in the third quarter. J.W. Cole Advisors Inc. now owns 1,333 shares of the company’s stock valued at $277,000 after purchasing an additional 94 shares during the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on LHX shares. Citigroup initiated coverage on L3Harris Technologies in a research note on Thursday, December 8th. They issued a “neutral” rating and a $250.00 price objective for the company. Wells Fargo & Company lifted their price target on shares of L3Harris Technologies from $219.00 to $230.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 1st. JPMorgan Chase & Co. lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Monday, December 12th. Morgan Stanley reduced their price target on L3Harris Technologies from $278.00 to $264.00 and set an “overweight” rating on the stock in a research report on Monday, January 30th. Finally, Truist Financial lowered their price objective on L3Harris Technologies from $264.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, January 30th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $259.46.
L3Harris Technologies Stock Performance
L3Harris Technologies (NYSE:LHX – Get Rating) last posted its earnings results on Friday, January 27th. The company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.21 by $0.06. L3Harris Technologies had a net margin of 6.22% and a return on equity of 13.20%. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the previous year, the firm posted $3.30 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts predict that L3Harris Technologies, Inc. will post 12.32 earnings per share for the current fiscal year.
L3Harris Technologies Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be issued a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Thursday, March 9th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.12. L3Harris Technologies’s dividend payout ratio (DPR) is currently 83.36%.
L3Harris Technologies Company Profile
L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.
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