Boston Partners Has $247.89 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Boston Partners lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 20.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,178,741 shares of the company’s stock after acquiring an additional 198,243 shares during the quarter. Boston Partners owned approximately 0.62% of L3Harris Technologies worth $247,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Horizon Investments LLC increased its stake in shares of L3Harris Technologies by 2.3% in the fourth quarter. Horizon Investments LLC now owns 4,208 shares of the company’s stock worth $885,000 after acquiring an additional 94 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of L3Harris Technologies by 22.5% in the fourth quarter. Advisors Asset Management Inc. now owns 30,479 shares of the company’s stock worth $6,409,000 after acquiring an additional 5,606 shares during the last quarter. PDS Planning Inc increased its stake in shares of L3Harris Technologies by 5.8% in the fourth quarter. PDS Planning Inc now owns 1,100 shares of the company’s stock worth $231,000 after acquiring an additional 60 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter worth $75,000. Finally, Cibc World Markets Corp boosted its holdings in L3Harris Technologies by 16.3% in the fourth quarter. Cibc World Markets Corp now owns 29,960 shares of the company’s stock worth $6,300,000 after purchasing an additional 4,194 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LHX shares. Morgan Stanley decreased their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Citigroup decreased their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Truist Financial decreased their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Bank of America decreased their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Finally, Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $261.40.

L3Harris Technologies Stock Down 0.2 %

NYSE LHX opened at $212.46 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a 50-day simple moving average of $209.62 and a 200 day simple moving average of $226.67. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The stock has a market cap of $39.88 billion, a PE ratio of 27.00, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last released 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 net margin of 7.04% and a return on equity of 13.11%. On average, research analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

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

Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ross Niebergall sold 1,764 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,098 shares of company stock valued at $1,760,588 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

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.