Penserra Capital Management LLC Buys 3,985 Shares of L3Harris Technologies Inc (NYSE:LHX)

Penserra Capital Management LLC increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 70.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,675 shares of the company's stock after acquiring an additional 3,985 shares during the quarter. Penserra Capital Management LLC's holdings in L3Harris Technologies were worth $2,024,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LHX. Brighton Jones LLC raised its position in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after buying an additional 3,001 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of L3Harris Technologies in the 4th quarter valued at $25,071,000. Edgestream Partners L.P. bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $866,000. Dorsey & Whitney Trust CO LLC lifted its position in shares of L3Harris Technologies by 5.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 3,134 shares of the company's stock worth $659,000 after buying an additional 149 shares during the last quarter. Finally, Amundi grew its position in L3Harris Technologies by 223.6% in the fourth quarter. Amundi now owns 78,077 shares of the company's stock valued at $16,174,000 after acquiring an additional 53,946 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 0.8%

LHX stock traded up $2.01 during mid-day trading on Wednesday, reaching $259.10. The company's stock had a trading volume of 934,388 shares, compared to its average volume of 1,155,862. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $265.74. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The business's 50 day moving average price is $239.72 and its 200 day moving average price is $220.83. The company has a market cap of $48.44 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 2.05 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the firm earned $3.06 earnings per share. L3Harris Technologies's revenue was down 1.5% on a year-over-year basis. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Insider Buying and Selling

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 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. The trade was a 7.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were 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 in the company, valued at $36,171,730.56. This trade represents a 18.51% 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 corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Citigroup upped their price objective on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. UBS Group increased their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Truist Financial dropped their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a report on Friday, April 25th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their target price for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Finally, Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Five 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 company has an average rating of "Moderate Buy" and an average target price of $258.75.

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.