L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Deutsche Bank AG

Deutsche Bank AG boosted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 64.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 740,400 shares of the company’s stock after buying an additional 289,514 shares during the period. Deutsche Bank AG owned 0.39% of L3Harris Technologies worth $155,691,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in L3Harris Technologies by 1.8% during 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 during the last quarter. Geode Capital Management LLC grew its stake in L3Harris Technologies by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock valued at $1,004,418,000 after acquiring an additional 53,787 shares in the last quarter. FMR LLC raised its holdings in L3Harris Technologies by 11.5% in the 4th quarter. FMR LLC now owns 2,261,999 shares of the company’s stock valued at $475,653,000 after acquiring an additional 233,968 shares during the last quarter. Invesco Ltd. lifted its stake in L3Harris Technologies by 30.5% in the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock worth $469,992,000 after purchasing an additional 522,861 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $398,507,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 0.3 %

Shares of LHX stock opened at $219.15 on Friday. The stock has a market capitalization of $40.97 billion, a P/E ratio of 27.85, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. 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 company has a 50 day moving average price of $213.93 and a 200 day moving average price of $220.37.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the prior year, the company earned $3.06 earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. Equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is presently 56.94%.

Insider Activity at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LHX shares. Truist Financial reduced their price objective on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. Morgan Stanley reduced their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Bank of America dropped their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $256.56.

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.