IFM Investors Pty Ltd Grows Position in L3Harris Technologies Inc (NYSE:LHX)

IFM Investors Pty Ltd grew its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 30.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,933 shares of the company's stock after buying an additional 4,616 shares during the period. IFM Investors Pty Ltd's holdings in L3Harris Technologies were worth $4,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in LHX. Brighton Jones LLC grew its stake in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after buying an additional 3,001 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of L3Harris Technologies by 158.9% during the 4th quarter. Jones Financial Companies Lllp now owns 3,715 shares of the company's stock worth $781,000 after purchasing an additional 2,280 shares during the period. Assetmark Inc. boosted its stake in shares of L3Harris Technologies by 5.2% during the 4th quarter. Assetmark Inc. now owns 18,572 shares of the company's stock worth $3,905,000 after purchasing an additional 916 shares during the period. M&T Bank Corp boosted its stake in shares of L3Harris Technologies by 1.7% during the 4th quarter. M&T Bank Corp now owns 13,503 shares of the company's stock worth $2,840,000 after purchasing an additional 232 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter worth about $25,071,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LHX. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price objective for the company from $198.00 to $263.00 in a report on Friday, April 11th. Jefferies Financial Group decreased 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. Truist Financial decreased 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. Citigroup lifted their price objective on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, UBS Group lifted 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. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $258.75.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the sale, the chief executive officer owned 145,572 shares of the company's stock, valued at approximately $36,171,730.56. The trade was a 18.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider directly owned 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Down 0.4%

Shares of NYSE:LHX traded down $1.08 during trading hours on Tuesday, hitting $255.35. The company's stock had a trading volume of 146,614 shares, compared to its average volume of 1,456,505. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85. The company has a market capitalization of $47.74 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 2.04 and a beta of 0.75. The firm's fifty day moving average price is $239.00 and its 200 day moving average price is $220.58.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. L3Harris Technologies's revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.06 EPS. As a group, research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.88%. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

L3Harris Technologies 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.