Cerity Partners LLC Buys 1,595 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Cerity Partners LLC boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 3.3% in the fourth quarter, HoldingsChannel reports. The firm owned 49,485 shares of the company’s stock after acquiring an additional 1,595 shares during the period. Cerity Partners LLC’s holdings in L3Harris Technologies were worth $10,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp grew its position in L3Harris Technologies by 4.1% in the 1st quarter. State Street Corp now owns 8,691,190 shares of the company’s stock worth $1,705,558,000 after purchasing an additional 339,806 shares during the period. Geode Capital Management LLC grew its position in L3Harris Technologies by 1.0% in the 1st quarter. Geode Capital Management LLC now owns 3,556,352 shares of the company’s stock worth $696,145,000 after purchasing an additional 34,726 shares during the period. Morgan Stanley grew its position in L3Harris Technologies by 1.9% in the 3rd quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock worth $436,684,000 after purchasing an additional 47,691 shares during the period. Allspring Global Investments Holdings LLC grew its position in L3Harris Technologies by 4.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock worth $430,049,000 after purchasing an additional 82,423 shares during the period. Finally, Norges Bank bought a new stake in L3Harris Technologies in the 4th quarter worth approximately $342,413,000. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LHX shares. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a research report on Thursday, January 11th. UBS Group boosted their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Raymond James boosted their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Royal Bank of Canada boosted their price objective on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

Insider Activity

In other news, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the sale, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the sale, the insider now owns 28,644 shares in the company, valued at $6,057,346.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,362 shares of company stock worth $10,261,360. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Up 0.1 %

Shares of LHX stock opened at $202.62 on Monday. The stock has a market cap of $38.52 billion, a P/E ratio of 31.46, a PEG ratio of 1.88 and a beta of 0.65. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $210.92 and its two-hundred day simple moving average is $199.17.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.31 by $0.04. The business had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.27 EPS. Analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.29%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend was Thursday, March 7th. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

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.