15,729 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Purchased by AssuredPartners Investment Advisors LLC

AssuredPartners Investment Advisors LLC purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 15,729 shares of the company’s stock, valued at approximately $3,308,000.

Other large investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $398,507,000. Vanguard Group Inc. increased its stake in L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after purchasing an additional 401,168 shares in the last quarter. Boston Partners increased its stake in L3Harris Technologies by 20.2% in the 4th quarter. Boston Partners now owns 1,178,741 shares of the company’s stock worth $247,893,000 after purchasing an additional 198,243 shares in the last quarter. National Pension Service raised its holdings in L3Harris Technologies by 42.1% during the 4th quarter. National Pension Service now owns 606,047 shares of the company’s stock worth $127,440,000 after buying an additional 179,539 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,334 shares of company stock valued at $1,383,709 over the last 90 days. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Citigroup reduced their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. UBS Group lifted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, Susquehanna lowered their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

L3Harris Technologies Stock Performance

Shares of LHX opened at $211.97 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The company’s fifty day moving average is $209.66 and its 200-day moving average is $225.78. The firm has a market cap of $39.79 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74.

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

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $1.20 dividend. 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%. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s payout ratio is 60.99%.

L3Harris Technologies Company 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.