National Pension Service Acquires 7,649 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

National Pension Service increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 2.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 370,170 shares of the company’s stock after buying an additional 7,649 shares during the period. National Pension Service’s holdings in L3Harris Technologies were worth $77,965,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Cross Staff Investments Inc raised its holdings in shares of L3Harris Technologies by 12.4% in the 4th quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock worth $302,000 after purchasing an additional 158 shares during the period. Sapient Capital LLC bought a new stake in shares of L3Harris Technologies in the fourth quarter valued at $1,198,000. Bruce G. Allen Investments LLC bought a new position in shares of L3Harris Technologies during the 4th quarter worth $46,000. BKM Wealth Management LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth about $1,125,000. Finally, South Dakota Investment Council lifted its holdings in L3Harris Technologies by 43.2% during the third quarter. South Dakota Investment Council now owns 39,368 shares of the company’s stock valued at $6,855,000 after purchasing an additional 11,879 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LHX. Citigroup boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research note on Monday, April 22nd. Raymond James increased their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, UBS Group boosted their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $231.80.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded up $3.50 during trading on Thursday, hitting $219.31. 335,471 shares of the stock traded hands, compared to its average volume of 1,105,802. The stock has a market cap of $41.60 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 1.88 and a beta of 0.63. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $219.88. The firm’s fifty day moving average is $210.32 and its 200-day moving average is $203.41.

L3Harris Technologies (NYSE:LHX) last issued its earnings results 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 net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter last year, the business earned $2.86 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. Research analysts expect that L3Harris Technologies, Inc. will post 12.91 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 annualized dividend and a dividend yield of 2.12%. L3Harris Technologies’s payout ratio is 75.32%.

Insider Activity

In other news, Director William H. Swanson acquired 1,250 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $215.35 per share, with a total value of $269,187.50. Following the transaction, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director William H. Swanson acquired 1,250 shares of the stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the transaction, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction dated 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 directly 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 ninety days, insiders sold 48,362 shares of company stock worth $10,261,360. Insiders own 0.87% 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.