Jennison Associates LLC Grows Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Jennison Associates LLC boosted its position in L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 39.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,354 shares of the company’s stock after acquiring an additional 669 shares during the period. Jennison Associates LLC’s holdings in L3Harris Technologies were worth $502,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strong Tower Advisory Services grew its stake in shares of L3Harris Technologies by 0.9% during the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after buying an additional 49 shares during the period. Oak Harbor Wealth Partners LLC boosted its position in L3Harris Technologies by 1.7% during the 1st quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock worth $636,000 after purchasing an additional 49 shares during the period. Blossom Wealth Management boosted its position in L3Harris Technologies by 2.1% during the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after purchasing an additional 51 shares during the period. JFS Wealth Advisors LLC boosted its position in L3Harris Technologies by 12.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock worth $103,000 after purchasing an additional 53 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in L3Harris Technologies by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock worth $106,000 after purchasing an additional 58 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $227.28 on Thursday. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $228.13. The firm’s fifty day simple moving average is $221.89 and its 200 day simple moving average is $213.73. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $43.11 billion, a PE ratio of 36.90, a PEG ratio of 1.89 and a beta of 0.72.

L3Harris Technologies (NYSE:LHXGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the prior year, the firm earned $2.86 EPS. The business’s revenue was up 16.6% on a year-over-year basis. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 12.96 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a $1.16 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.04%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the transaction, the vice president now directly owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the sale, the vice president now owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Insiders have sold a total of 82,898 shares of company stock worth $18,558,167 over the last ninety days. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LHX shares. Barclays upped their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Royal Bank of Canada upped their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Wells Fargo & Company boosted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $231.80.

Get Our Latest Research Report on L3Harris Technologies

L3Harris Technologies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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