Rhumbline Advisers Increases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Rhumbline Advisers lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 4.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 337,066 shares of the company's stock after buying an additional 14,295 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of L3Harris Technologies worth $70,551,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LHX. Meeder Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after buying an additional 82 shares in the last quarter. Millstone Evans Group LLC bought a new stake in L3Harris Technologies in the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after purchasing an additional 111 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Trading Down 0.1%

L3Harris Technologies stock traded down $0.32 during mid-day trading on Thursday, hitting $241.99. The company's stock had a trading volume of 1,135,676 shares, compared to its average volume of 1,100,714. 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 company has a 50 day moving average of $222.19 and a 200-day moving average of $218.33. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The stock has a market cap of $45.24 billion, a PE ratio of 30.75, a P/E/G ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released 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. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period last year, the business posted $3.06 EPS. L3Harris Technologies's quarterly revenue was down 1.5% on a year-over-year basis. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed 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 1.98%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company's stock, valued at $632,122. This represents a 53.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the firm'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 transaction, the insider now directly owns 25,325 shares of the company's stock, valued at $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup decreased their target price on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Truist Financial reduced 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 lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Wells Fargo & Company cut their target price 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. Finally, 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 report on Monday, April 28th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.56.

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.