Commerce Bank Acquires 1,607 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Commerce Bank raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,820 shares of the company's stock after acquiring an additional 1,607 shares during the quarter. Commerce Bank's holdings in L3Harris Technologies were worth $4,378,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its position in shares of L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares during the period. Millstone Evans Group LLC bought a new position in L3Harris Technologies in the 4th quarter worth $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at about $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth about $30,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of L3Harris Technologies during the 4th quarter worth about $33,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Up 0.0 %

NYSE:LHX traded up $0.10 on Friday, reaching $216.37. The company's stock had a trading volume of 1,637,041 shares, compared to its average volume of 1,018,027. The business's 50-day moving average price is $210.58 and its two-hundred day moving average price is $222.24. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a market cap of $40.62 billion, a PE ratio of 27.49, a PEG ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, missing analysts' consensus estimates of $2.55 by ($0.14). The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.22%. L3Harris Technologies's dividend payout ratio is presently 60.99%.

Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of the company's stock in a transaction dated Monday, March 10th. The shares were 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 in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the firm'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 transaction 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. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LHX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a research report on Thursday, January 2nd. Citigroup reduced their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Morgan Stanley dropped their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Raymond James downgraded L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company reduced their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $257.25.

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.