UNIVEST FINANCIAL Corp Buys 13,756 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

UNIVEST FINANCIAL Corp lifted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 48.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,016 shares of the company’s stock after buying an additional 13,756 shares during the period. UNIVEST FINANCIAL Corp’s holdings in L3Harris Technologies were worth $8,835,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LHX. Quest Partners LLC grew its holdings in shares of L3Harris Technologies by 36,000.0% during the third quarter. Quest Partners LLC now owns 361 shares of the company’s stock worth $86,000 after purchasing an additional 360 shares during the last quarter. Eagle Asset Management Inc. increased its position in L3Harris Technologies by 37.3% in the third quarter. Eagle Asset Management Inc. now owns 10,183 shares of the company’s stock worth $2,654,000 after buying an additional 2,765 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of L3Harris Technologies by 11.8% during the 3rd quarter. Cerity Partners LLC now owns 57,691 shares of the company’s stock valued at $13,723,000 after buying an additional 6,100 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in L3Harris Technologies by 7.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 4,292 shares of the company’s stock worth $1,021,000 after purchasing an additional 306 shares during the period. Finally, Penserra Capital Management LLC raised its holdings in shares of L3Harris Technologies by 1.9% in the 3rd quarter. Penserra Capital Management LLC now owns 3,445 shares of the company’s stock valued at $818,000 after acquiring an additional 63 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the transaction, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,334 shares of company stock worth $1,383,709. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LHX shares. Bank of America cut their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Barclays lowered their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Finally, Truist Financial reduced their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

L3Harris Technologies Stock Up 1.0 %

L3Harris Technologies stock opened at $212.80 on Wednesday. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $209.70 and a two-hundred day moving average of $225.87. The stock has a market capitalization of $39.95 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, research analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.26%. L3Harris Technologies’s payout ratio is 60.99%.

About L3Harris Technologies

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.