Mackenzie Financial Corp Purchases 8,730 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Mackenzie Financial Corp boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 49.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,334 shares of the company's stock after buying an additional 8,730 shares during the quarter. Mackenzie Financial Corp's holdings in L3Harris Technologies were worth $5,538,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LHX. LaFleur & Godfrey LLC grew its position in L3Harris Technologies by 58.3% in the fourth quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company's stock worth $5,635,000 after buying an additional 9,873 shares during the last quarter. Brighton Jones LLC grew its position in L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after buying an additional 3,001 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in L3Harris Technologies by 5.1% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 1,397 shares of the company's stock worth $294,000 after buying an additional 68 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in L3Harris Technologies by 56.9% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,414 shares of the company's stock worth $297,000 after buying an additional 513 shares during the last quarter. Finally, PFG Investments LLC grew its position in L3Harris Technologies by 18.4% in the fourth quarter. PFG Investments LLC now owns 1,439 shares of the company's stock worth $303,000 after buying an additional 224 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on LHX shares. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. 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 research note on Monday, March 31st. Morgan Stanley decreased their price objective 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. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and raised their price objective for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, UBS Group raised their price objective 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. 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $256.56.

Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies 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 transaction, the insider now owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction 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 completion of the transaction, the insider now owns 25,325 shares in the company, valued at $6,204,625. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,961 shares of company stock worth $1,585,297. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Down 0.4%

Shares of L3Harris Technologies stock traded down $1.04 during midday trading on Monday, reaching $243.30. 1,339,365 shares of the company's stock traded hands, compared to its average volume of 1,099,183. The company has a market cap of $45.48 billion, a price-to-earnings ratio of 30.91, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The company's 50 day simple moving average is $220.88 and its 200 day simple moving average is $217.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.06 EPS. Equities analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared 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 is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.97%. L3Harris Technologies's dividend payout ratio is currently 56.94%.

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.