American Century Companies Inc. Has $165.11 Million Stock Position in L3Harris Technologies Inc $LHX

American Century Companies Inc. decreased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 26.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 540,616 shares of the company’s stock after selling 195,610 shares during the quarter. American Century Companies Inc. owned 0.29% of L3Harris Technologies worth $165,110,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after buying an additional 3,001 shares in the last quarter. Atria Investments Inc lifted its stake in shares of L3Harris Technologies by 7.8% in the 2nd quarter. Atria Investments Inc now owns 9,512 shares of the company’s stock valued at $2,386,000 after purchasing an additional 685 shares during the period. Simon Quick Advisors LLC boosted its position in shares of L3Harris Technologies by 17.7% in the 2nd quarter. Simon Quick Advisors LLC now owns 1,795 shares of the company’s stock worth $450,000 after purchasing an additional 270 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in L3Harris Technologies by 2.5% during the second quarter. GHP Investment Advisors Inc. now owns 32,604 shares of the company’s stock valued at $8,178,000 after purchasing an additional 798 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new position in L3Harris Technologies in the second quarter valued at about $219,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Royal Bank Of Canada lifted their price target on L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a research note on Monday, January 5th. Morgan Stanley raised their price target on L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Citigroup upped their price objective on L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Finally, JPMorgan Chase & Co. increased their target price on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $328.57.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $364.50 on Monday. 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 stock has a market capitalization of $68.08 billion, a PE ratio of 42.73, a PEG ratio of 2.63 and a beta of 0.63. The business’s 50 day simple moving average is $335.43 and its 200 day simple moving average is $302.66. L3Harris Technologies Inc has a one year low of $195.72 and a one year high of $369.59.

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

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a $1.25 dividend. The ex-dividend date is Friday, March 6th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio is currently 56.27%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Samir Mehta sold 4,840 shares of L3Harris Technologies stock in a transaction dated 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 trade represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Profile

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.