Carret Asset Management LLC Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Carret Asset Management LLC lifted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,480 shares of the company’s stock after buying an additional 98 shares during the quarter. Carret Asset Management LLC’s holdings in L3Harris Technologies were worth $3,471,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LHX. Manning & Napier Group LLC increased its holdings in L3Harris Technologies by 58.6% during the 3rd quarter. Manning & Napier Group LLC now owns 1,034,176 shares of the company’s stock worth $180,071,000 after purchasing an additional 381,997 shares during the period. Mondrian Investment Partners LTD increased its holdings in shares of L3Harris Technologies by 32,907.5% in the 3rd quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock valued at $66,208,000 after acquiring an additional 379,094 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of L3Harris Technologies by 53.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock valued at $179,709,000 after acquiring an additional 296,654 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of L3Harris Technologies by 22.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock valued at $252,481,000 after acquiring an additional 266,468 shares during the last quarter. Finally, Mizuho Markets Americas LLC purchased a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $35,207,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In other L3Harris Technologies news, Director William H. Swanson purchased 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, with a total value of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director William H. Swanson acquired 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, 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. Insiders sold 48,362 shares of company stock valued at $10,261,360 in the last three months. 0.87% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on LHX. UBS Group upped their target price on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research report on Monday. Citigroup upped their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Royal Bank of Canada upped their target price on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price for the company in a research report on Thursday, January 11th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.60.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded up $0.03 during mid-day trading on Wednesday, reaching $207.71. 1,002,094 shares of the company were exchanged, compared to its average volume of 1,112,701. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The firm’s 50-day simple moving average is $210.23 and its two-hundred day simple moving average is $200.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. The firm has a market cap of $39.49 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.93 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.31 by $0.04. The business had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $3.27 EPS. Equities analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share 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. Stockholders of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.64 annualized dividend and a dividend yield of 2.23%. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

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.