Natixis Advisors LLC Acquires 54,672 Shares of L3Harris Technologies Inc (NYSE:LHX)

Key Points

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Natixis Advisors LLC increased its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 25.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 267,328 shares of the company's stock after buying an additional 54,672 shares during the period. Natixis Advisors LLC owned about 0.14% of L3Harris Technologies worth $55,954,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after purchasing an additional 3,001 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of L3Harris Technologies during the fourth quarter valued at $11,508,000. O Shaughnessy Asset Management LLC grew its position in shares of L3Harris Technologies by 5.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 19,457 shares of the company's stock worth $4,091,000 after acquiring an additional 960 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of 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 acquiring an additional 82 shares during the period. Finally, Franklin Resources Inc. lifted its position in L3Harris Technologies by 10.6% in the 4th quarter. Franklin Resources Inc. now owns 241,324 shares of the company's stock valued at $50,746,000 after purchasing an additional 23,096 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the business's 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 sale, the insider owned 25,325 shares of the company's stock, valued at $6,204,625. The trade was a 7.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 72,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $39,472,018.92. This trade represents a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,061 shares of company stock valued at $28,227,077. Insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Up 1.2%

NYSE:LHX traded up $3.37 during mid-day trading on Friday, reaching $278.19. The stock had a trading volume of 1,412,687 shares, compared to its average volume of 1,302,119. The business's 50 day moving average is $255.07 and its 200 day moving average is $227.91. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $280.03. The stock has a market cap of $52.05 billion, a P/E ratio of 31.08, a PEG ratio of 2.03 and a beta of 0.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.30. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%. The firm's revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.24 EPS. As a group, sell-side analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies's dividend payout ratio is 53.63%.

Analyst Ratings Changes

A number of brokerages have recently commented on LHX. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, July 28th. Wells Fargo & Company cut their price target 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. Citigroup raised their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Robert W. Baird lifted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, UBS Group lifted their target price on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $279.47.

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.