Federated Hermes Inc. Has $9.51 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Federated Hermes Inc. boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 12.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 45,135 shares of the company’s stock after acquiring an additional 5,030 shares during the period. Federated Hermes Inc.’s holdings in L3Harris Technologies were worth $9,506,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Morgan Stanley raised its holdings in L3Harris Technologies by 1.9% during the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock worth $436,684,000 after buying an additional 47,691 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of 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 acquiring an additional 82,423 shares in the last quarter. Northern Trust Corp grew its stake in shares of L3Harris Technologies by 4.6% in the 3rd quarter. Northern Trust Corp now owns 1,570,639 shares of the company’s stock worth $273,480,000 after acquiring an additional 68,545 shares in the last quarter. Invesco Ltd. grew its stake in shares of L3Harris Technologies by 15.3% in the 3rd quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock worth $254,187,000 after acquiring an additional 193,690 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of L3Harris Technologies by 22.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after acquiring an additional 266,468 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LHX. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Raymond James increased their price target 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 increased their price target 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, Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research report on Monday. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $229.60.

L3Harris Technologies Price Performance

NYSE LHX opened at $207.62 on Wednesday. The company has a market cap of $39.47 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.91 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 firm’s 50-day simple moving average is $210.23 and its two-hundred day simple moving average is $200.95.

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

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s payout ratio is 72.05%.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William H. Swanson purchased 1,250 shares of the stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is currently owned by corporate insiders.

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.