1,685 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Purchased by Jennison Associates LLC

Jennison Associates LLC acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,685 shares of the company’s stock, valued at approximately $355,000.

Several other large investors have also recently modified their holdings of the business. Capital Investment Advisory Services LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter worth about $230,000. CWM LLC increased its stake in shares of L3Harris Technologies by 11.8% in the fourth quarter. CWM LLC now owns 6,045 shares of the company’s stock worth $1,273,000 after purchasing an additional 639 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of L3Harris Technologies by 1.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,352 shares of the company’s stock worth $3,655,000 after purchasing an additional 203 shares in the last quarter. Signaturefd LLC increased its stake in shares of L3Harris Technologies by 20.8% in the fourth quarter. Signaturefd LLC now owns 8,942 shares of the company’s stock worth $1,883,000 after purchasing an additional 1,540 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in shares of L3Harris Technologies by 52.7% in the fourth quarter. Lindbrook Capital LLC now owns 1,599 shares of the company’s stock worth $337,000 after purchasing an additional 552 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 3.5 %

Shares of LHX opened at $214.54 on Monday. The firm has a market cap of $40.79 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 1.99 and a beta of 0.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $218.34. The firm has a 50 day moving average price of $210.16 and a 200-day moving average price of $201.62.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.86 EPS. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 12.76 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.16%. L3Harris Technologies’s payout ratio is 75.32%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup raised their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Raymond James raised 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 raised 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. StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” 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 target price for the company in a research report on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.60.

Insider Transactions at L3Harris Technologies

In other news, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,362 shares of company stock worth $10,261,360. 0.82% of the stock is currently owned by 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.