L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Palisade Asset Management LLC

Palisade Asset Management LLC increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,766 shares of the company’s stock after acquiring 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.

Several other large investors have also recently bought and sold shares of the business. KB Financial Partners LLC grew its stake in shares of L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the period. New England Capital Financial Advisors LLC acquired a new position in L3Harris Technologies during the third quarter worth about $35,000. Blue Trust Inc. increased its holdings in L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares in the last quarter. Washington Trust Advisors Inc. increased its holdings in L3Harris Technologies by 80.6% in the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after buying an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.0 %

Shares of LHX stock traded down $0.10 on Wednesday, reaching $215.81. 986,633 shares of the stock were exchanged, compared to its average volume of 1,108,013. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34. The stock has a market cap of $40.93 billion, a P/E ratio of 35.05, a price-to-earnings-growth 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. The firm has a 50 day moving average of $210.32 and a two-hundred day moving average of $203.41.

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

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Activity

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the sale, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,362 shares of company stock valued at $10,261,360. Company insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. UBS Group increased their target price on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Royal Bank of Canada boosted their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research report on Monday, April 22nd. Finally, StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $231.80.

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.