Caisse DE Depot ET Placement DU Quebec Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Caisse DE Depot ET Placement DU Quebec acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 75,000 shares of the company's stock, valued at approximately $15,771,000.

A number of other hedge funds have also recently modified their holdings of LHX. Vanguard Group Inc. grew its stake in shares of 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 period. Geode Capital Management LLC increased its holdings in L3Harris Technologies by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock valued at $1,004,418,000 after buying an additional 53,787 shares in the last quarter. FMR LLC boosted its stake in shares of L3Harris Technologies by 11.5% during the 4th quarter. FMR LLC now owns 2,261,999 shares of the company's stock worth $475,653,000 after acquiring an additional 233,968 shares in the last quarter. Invesco Ltd. boosted its stake in shares of L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after acquiring an additional 522,861 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $398,507,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, 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 $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares of the company's stock, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Down 0.1 %

Shares of NYSE:LHX opened at $219.72 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The business has a fifty day moving average of $212.69 and a two-hundred day moving average of $221.39. The stock has a market cap of $41.24 billion, a P/E ratio of 27.92, a PEG ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the previous year, the business posted $3.06 EPS. L3Harris Technologies's revenue was down 1.5% on a year-over-year basis. On average, research analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 2.18%. L3Harris Technologies's dividend payout ratio (DPR) is 56.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LHX. Citigroup lowered their price target on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price target for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Bank of America reduced their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and dropped their target price for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, Morgan Stanley cut their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $256.56.

L3Harris Technologies 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.

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