Massachusetts Financial Services Co. MA Has $283.79 Million Stock Position in L3Harris Technologies Inc (NYSE:LHX)

Massachusetts Financial Services Co. MA trimmed its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 0.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,355,823 shares of the company's stock after selling 7,148 shares during the period. Massachusetts Financial Services Co. MA owned 0.72% of L3Harris Technologies worth $283,787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after purchasing an additional 401,168 shares in the last quarter. 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 purchasing an additional 53,787 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of L3Harris Technologies by 15.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock worth $486,898,000 after purchasing an additional 311,886 shares during the period. FMR LLC raised 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 buying an additional 233,968 shares during the period. Finally, Invesco Ltd. lifted its position in L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after buying an additional 522,861 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Transactions at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the 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 sale, the insider owned 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the completion of the transaction, the chief executive officer directly owned 145,572 shares of the company's stock, valued at $36,171,730.56. This represents a 18.51% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

Shares of NYSE LHX traded up $2.49 during trading on Wednesday, reaching $263.66. The stock had a trading volume of 1,109,808 shares, compared to its average volume of 1,159,854. The firm's 50 day moving average price is $243.87 and its two-hundred day moving average price is $222.48. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. 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 $49.29 billion, a PE ratio of 31.28, a P/E/G ratio of 2.04 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The company's revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.06 earnings per share. On average, research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced 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 was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.82%. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Wall Street Analysts Forecast Growth

LHX has been the topic of several recent analyst reports. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research note on Monday. 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. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. UBS Group raised their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Finally, Citigroup reaffirmed a "buy" rating and issued a $300.00 price target (up previously from $280.00) on shares of L3Harris Technologies in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $263.81.

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.