Harel Insurance Investments & Financial Services Ltd. Grows Stake in L3Harris Technologies Inc (NYSE:LHX)

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

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 valued at $4,895,534,000 after buying an additional 401,168 shares during the last quarter. Geode Capital Management LLC raised its stake 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 valued at $1,004,418,000 after purchasing an additional 53,787 shares during the period. Allspring Global Investments Holdings LLC raised its stake 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 valued at $486,898,000 after purchasing an additional 311,886 shares during the period. FMR LLC raised 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 valued at $475,653,000 after purchasing an additional 233,968 shares during the period. Finally, Invesco Ltd. raised 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 valued at $469,992,000 after purchasing an additional 522,861 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Activity

In related news, 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 $36,171,730.56. This represents a 18.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider owned 25,325 shares of the company's stock, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Trading Up 1.3%

LHX stock traded up $3.21 during trading on Friday, hitting $256.77. 575,399 shares of the company traded hands, compared to its average volume of 1,148,962. The firm has a market capitalization of $48.00 billion, a PE ratio of 30.46, a P/E/G ratio of 2.04 and a beta of 0.75. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a 50-day moving average of $238.25 and a 200-day moving average of $220.16. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued 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. The company had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. L3Harris Technologies's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.06 EPS. Analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is presently 56.94%.

Analysts Set New Price Targets

LHX has been the topic of a number of analyst reports. Truist Financial decreased their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Jefferies Financial Group decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. UBS Group boosted their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and upped their target price for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Citigroup upped their target price on L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average target price of $258.75.

About L3Harris Technologies

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.