Palisade Asset Management LLC Purchases 2,398 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Palisade Asset Management LLC boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 47,766 shares of the company’s stock after purchasing an additional 2,398 shares during the period. Palisade Asset Management LLC’s holdings in L3Harris Technologies were worth $10,060,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD boosted its holdings in L3Harris Technologies by 32,907.5% in the third quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock worth $66,208,000 after purchasing an additional 379,094 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of L3Harris Technologies by 53.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock valued at $179,709,000 after acquiring an additional 296,654 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in L3Harris Technologies by 22.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after purchasing an additional 266,468 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in L3Harris Technologies during the third quarter valued at approximately $35,207,000. Finally, Invesco Ltd. raised its position in shares of L3Harris Technologies by 15.3% in the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock valued at $254,187,000 after purchasing an additional 193,690 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LHX. JPMorgan Chase & Co. upped their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research report on Monday, April 22nd. Barclays lifted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Wells Fargo & Company increased their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Royal Bank of Canada lifted their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $231.80.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director William H. Swanson purchased 1,250 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,362 shares of company stock valued at $10,261,360. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX traded down $0.10 during mid-day trading on Wednesday, reaching $215.81. The company had a trading volume of 986,633 shares, compared to its average volume of 1,108,013. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The company has a market capitalization of $40.93 billion, a P/E ratio of 35.05, a P/E/G ratio of 1.88 and a beta of 0.63. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The company’s 50-day moving average is $210.32 and its 200-day moving average is $203.41.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same period in the prior year, the company posted $2.86 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 12.91 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. The ex-dividend date is Tuesday, June 4th. This represents a $4.64 annualized dividend and a yield of 2.15%. L3Harris Technologies’s dividend payout ratio is 75.32%.

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.