MassMutual Private Wealth & Trust FSB Buys 3,819 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

MassMutual Private Wealth & Trust FSB raised its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,294 shares of the company's stock after buying an additional 3,819 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in L3Harris Technologies were worth $14,085,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its position in shares of L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after purchasing an additional 82 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after purchasing an additional 111 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LHX shares. UBS Group boosted their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price target for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Truist Financial dropped their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Jefferies Financial Group dropped their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Morgan Stanley dropped their price target 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 analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $256.56.

L3Harris Technologies Stock Up 0.4%

Shares of LHX stock traded up $1.01 during trading hours on Friday, hitting $244.43. 2,784,686 shares of the company were exchanged, compared to its average volume of 1,098,218. The business has a 50 day moving average of $220.25 and a two-hundred day moving average of $218.22. The company has a current ratio of 1.08, a quick ratio of 0.90 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 company has a market capitalization of $45.70 billion, a PE ratio of 31.06, a PEG ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping 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 business had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter in the prior year, the company posted $3.06 earnings per share. The firm's revenue was down 1.5% on a year-over-year basis. 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. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.96%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The shares were 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 in the company, valued at $6,475,517.60. This trade represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 6,961 shares of company stock worth $1,585,297 over the last quarter. 0.72% of the stock is currently owned by insiders.

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.