L3Harris Technologies Inc (NYSE:LHX) Stock Holdings Boosted by Penserra Capital Management LLC

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

Other large investors have also recently made changes to their positions in the company. Koshinski Asset Management Inc. increased its stake in L3Harris Technologies by 3.1% in the 1st quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock worth $353,000 after acquiring an additional 50 shares during the last quarter. Belpointe Asset Management LLC boosted its position in shares of L3Harris Technologies by 0.7% during the 4th quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock valued at $1,476,000 after acquiring an additional 52 shares during the last quarter. CWC Advisors LLC. boosted its position in shares of L3Harris Technologies by 2.1% during the 4th quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock valued at $546,000 after acquiring an additional 53 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of L3Harris Technologies by 0.6% during the 4th quarter. Citizens Financial Group Inc. RI now owns 8,908 shares of the company's stock valued at $1,873,000 after acquiring an additional 54 shares during the last quarter. Finally, Riverwater Partners LLC boosted its position in shares of L3Harris Technologies by 3.1% during the 1st quarter. Riverwater Partners LLC now owns 1,773 shares of the company's stock valued at $371,000 after acquiring an additional 54 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on LHX shares. Jefferies Financial Group dropped their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Truist Financial lifted their price target on L3Harris Technologies from $260.00 to $279.00 and gave the stock a "buy" rating in a research note on Friday. UBS Group lifted their price target on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Wells Fargo & Company dropped their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price objective for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $259.94.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded down $0.50 on Friday, hitting $259.60. 954,594 shares of the company were exchanged, compared to its average volume of 1,158,524. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $265.74. The stock's 50 day moving average price is $242.10 and its 200 day moving average price is $221.74. 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 firm has a market capitalization of $48.53 billion, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 2.03 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, topping analysts' consensus estimates of $2.32 by $0.09. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.06 earnings per share. Sell-side analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

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

Insider Activity

In other news, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the business'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 sale, the chief executive officer owned 145,572 shares of the company's stock, valued at approximately $36,171,730.56. This 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 owned by company insiders.

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.