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

National Pension Service boosted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 370,170 shares of the company’s stock after acquiring an additional 7,649 shares during the period. National Pension Service owned 0.20% of L3Harris Technologies worth $77,965,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LHX. Cross Staff Investments Inc grew its stake 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 acquiring an additional 158 shares in the last quarter. Sapient Capital LLC purchased a new position in L3Harris Technologies during the fourth quarter valued at approximately $1,198,000. Bruce G. Allen Investments LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth $46,000. BKM Wealth Management LLC purchased a new position in L3Harris Technologies in the 4th quarter worth approximately $1,125,000. Finally, South Dakota Investment Council increased its stake in L3Harris Technologies by 43.2% in the third quarter. South Dakota Investment Council now owns 39,368 shares of the company’s stock valued at $6,855,000 after acquiring an additional 11,879 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the transaction, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the sale, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is owned by corporate insiders.

L3Harris Technologies Trading Up 1.6 %

L3Harris Technologies stock traded up $3.50 during midday trading on Thursday, reaching $219.31. The stock had a trading volume of 335,471 shares, compared to its average volume of 1,105,802. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $219.88. The company has a fifty day moving average of $210.32 and a 200 day moving average of $203.41. The firm has a market cap of $41.60 billion, a price-to-earnings 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.

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

L3Harris Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

LHX has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Citigroup lifted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. UBS Group raised their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company boosted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.80.

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.