693,175 Shares in L3Harris Technologies Inc $LHX Acquired by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership bought a new position in L3Harris Technologies Inc (NYSE:LHX) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 693,175 shares of the company’s stock, valued at approximately $211,703,000. Artisan Partners Limited Partnership owned 0.37% of L3Harris Technologies at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of LHX. Integrated Advisors Network LLC lifted its holdings in shares of L3Harris Technologies by 47.3% in the third quarter. Integrated Advisors Network LLC now owns 2,757 shares of the company’s stock valued at $842,000 after buying an additional 885 shares during the period. Choreo LLC raised its position in L3Harris Technologies by 2.0% in the third quarter. Choreo LLC now owns 4,806 shares of the company’s stock worth $1,468,000 after acquiring an additional 96 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in L3Harris Technologies by 1.7% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 2,623 shares of the company’s stock valued at $801,000 after acquiring an additional 44 shares during the last quarter. Advisor OS LLC bought a new position in shares of L3Harris Technologies during the 3rd quarter valued at about $396,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of L3Harris Technologies by 5.9% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 394,908 shares of the company’s stock worth $120,609,000 after purchasing an additional 21,968 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Samir Mehta sold 4,840 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the completion of the transaction, the insider directly owned 5,916 shares in the company, valued at $2,004,636.60. This represents a 45.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LHX has been the topic of several research reports. BNP Paribas Exane raised L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a research report on Wednesday, January 14th. JPMorgan Chase & Co. raised their price objective on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Citigroup boosted their target price on L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Finally, Wolfe Research reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, January 30th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $328.57.

L3Harris Technologies Stock Up 4.2%

LHX stock opened at $355.24 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. The company has a 50-day moving average of $333.89 and a two-hundred day moving average of $301.55. The stock has a market capitalization of $66.35 billion, a price-to-earnings ratio of 41.65, a price-to-earnings-growth ratio of 2.46 and a beta of 0.64. L3Harris Technologies Inc has a 52-week low of $195.72 and a 52-week high of $369.59.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.10. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.47 EPS. As a group, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s payout ratio is presently 56.27%.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.