National Pension Service Grows Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

National Pension Service increased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 16.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 426,508 shares of the company’s stock after purchasing an additional 59,494 shares during the period. National Pension Service owned approximately 0.22% of L3Harris Technologies worth $101,453,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in L3Harris Technologies by 12.9% in the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after purchasing an additional 2,606,267 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in L3Harris Technologies by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock worth $2,052,411,000 after purchasing an additional 45,845 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in L3Harris Technologies by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after purchasing an additional 523,315 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in L3Harris Technologies by 1.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock worth $485,215,000 after purchasing an additional 27,763 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its stake in L3Harris Technologies by 2.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock worth $334,429,000 after purchasing an additional 31,686 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LHX. Wells Fargo & Company upped their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Citigroup upped their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research note on Thursday, October 10th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $267.50.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 8,964 shares of company stock worth $2,179,119. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Trading Down 0.2 %

Shares of LHX opened at $247.07 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 1 year low of $179.56 and a 1 year high of $258.89. The company has a 50 day simple moving average of $239.07 and a two-hundred day simple moving average of $229.39. The firm has a market cap of $46.86 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 2.12 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the firm posted $3.19 EPS. The company’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.88%. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

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.