Spring Capital Management LLC Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Spring Capital Management LLC raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,736 shares of the company's stock after purchasing an additional 1,515 shares during the quarter. L3Harris Technologies accounts for about 3.1% of Spring Capital Management LLC's holdings, making the stock its 16th biggest holding. Spring Capital Management LLC's holdings in L3Harris Technologies were worth $5,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the period. Geode Capital Management LLC lifted its stake in shares of L3Harris Technologies by 1.1% in 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 acquiring an additional 53,787 shares during the last quarter. FMR LLC boosted its holdings in 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 acquiring an additional 233,968 shares during the period. Invesco Ltd. grew its position in L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after acquiring an additional 522,861 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in L3Harris Technologies in the 4th quarter worth approximately $398,507,000. Institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LHX. UBS Group raised their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Jefferies Financial Group lowered their price objective 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. Citigroup cut their target price on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company decreased their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price target for the company from $198.00 to $263.00 in a report on Friday, April 11th. 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, the company currently has an average rating of "Moderate Buy" and an average price target of $256.56.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred 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 completion of the sale, the insider now owns 2,797 shares of the company's stock, valued at approximately $632,122. The trade was a 53.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider now directly owns 25,325 shares in the company, valued at $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Down 0.1%

L3Harris Technologies stock traded down $0.32 during mid-day trading on Thursday, hitting $241.99. The company had a trading volume of 1,135,685 shares, compared to its average volume of 1,100,715. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The company has a market capitalization of $45.24 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The stock's 50 day moving average price is $222.19 and its two-hundred day moving average price is $218.33. 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 (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. L3Harris Technologies's revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.06 EPS. As a group, sell-side 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. Investors of record on Tuesday, June 3rd will be given a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.98%. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

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.