L3Harris Technologies Inc (NYSE:LHX) Shares Bought by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 36.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,513 shares of the company's stock after purchasing an additional 5,193 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in L3Harris Technologies were worth $4,084,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position 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 last quarter. Geode Capital Management LLC raised its position in shares of L3Harris Technologies by 1.1% during the 4th 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. Allspring Global Investments Holdings LLC raised its position in shares of L3Harris Technologies by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock worth $486,898,000 after purchasing an additional 311,886 shares during the last quarter. FMR LLC raised its position 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 purchasing an additional 233,968 shares during the last quarter. Finally, Invesco Ltd. raised its position 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 purchasing an additional 522,861 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LHX. Citigroup upped their price target on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Truist Financial cut their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Jefferies Financial Group cut their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.75.

L3Harris Technologies Price Performance

LHX traded up $0.91 on Monday, hitting $256.64. 1,263,187 shares of the company were exchanged, compared to its average volume of 1,152,082. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. The business's fifty day moving average is $238.25 and its 200 day moving average is $220.27. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm has a market capitalization of $47.98 billion, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 2.04 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data 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 net margin of 7.55% and a return on equity of 12.38%. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the prior year, the firm posted $3.06 earnings per share. The company's quarterly revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Insiders Place Their Bets

In other news, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider directly owned 25,325 shares in the company, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the completion of the sale, the chief executive officer directly owned 145,572 shares in the company, valued at approximately $36,171,730.56. This trade represents a 18.51% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

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.