Ethic Inc. Acquires 6,987 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Ethic Inc. boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 208.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,334 shares of the company's stock after buying an additional 6,987 shares during the quarter. Ethic Inc.'s holdings in L3Harris Technologies were worth $2,173,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LHX. Vanguard Group Inc. grew its holdings in shares of L3Harris Technologies by 1.8% during the fourth 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 last quarter. Geode Capital Management LLC grew its holdings in shares of L3Harris Technologies by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock worth $1,004,418,000 after purchasing an additional 53,787 shares during the last quarter. FMR LLC grew its holdings in shares of L3Harris Technologies by 11.5% during the fourth quarter. FMR LLC now owns 2,261,999 shares of the company's stock worth $475,653,000 after purchasing an additional 233,968 shares during the last quarter. Invesco Ltd. grew its holdings in shares of L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after purchasing an additional 522,861 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of L3Harris Technologies during the fourth quarter worth about $398,507,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LHX shares. Morgan Stanley reduced their price target on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. UBS Group boosted their price target on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Citigroup dropped their price target on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Royal Bank of Canada reissued a "sector perform" rating and issued a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price objective for the company from $198.00 to $263.00 in a report on Friday, April 11th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average price target of $256.56.

L3Harris Technologies Stock Up 0.4%

NYSE LHX traded up $0.78 on Wednesday, reaching $219.15. The company had a trading volume of 1,674,244 shares, compared to its average volume of 1,032,072. The stock has a market capitalization of $40.97 billion, a P/E ratio of 27.85, a P/E/G ratio of 2.42 and a beta of 0.72. The company's fifty day moving average is $214.18 and its 200 day moving average is $219.78. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. 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 (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period last year, the firm posted $3.06 EPS. The business's revenue was down 1.5% compared to the same quarter last year. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is presently 56.94%.

Insider Activity

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. This trade represents a 5.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies 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 directly owns 2,797 shares of the company's stock, valued at $632,122. The trade was a 53.19% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

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.