L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC raised its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 14.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,460 shares of the company's stock after purchasing an additional 3,425 shares during the quarter. ProShare Advisors LLC's holdings in L3Harris Technologies were worth $5,774,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. raised its position in L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after purchasing an additional 82 shares during the period. Millstone Evans Group LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth about $27,000. Roxbury Financial LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in L3Harris Technologies by 336.4% in the 4th 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 during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 0.6%

L3Harris Technologies stock traded down $1.38 during mid-day trading on Friday, reaching $237.81. 2,359,028 shares of the company were exchanged, compared to its average volume of 1,071,895. The business has a fifty day moving average of $216.98 and a 200 day moving average of $218.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a market cap of $44.46 billion, a P/E ratio of 30.22, a PEG ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 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 quarter in the prior year, the business posted $3.06 EPS. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. Research 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.02%. L3Harris Technologies's dividend payout ratio is presently 56.94%.

Insider Activity

In other news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $718,228.00. Following 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. Company insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley dropped their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Truist Financial dropped their target price on shares of 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 dropped their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. The Goldman Sachs Group upgraded shares of 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, Royal Bank of Canada restated a "sector perform" rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 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, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $256.56.

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.