Robeco Institutional Asset Management B.V. Acquires 3,637 Shares of L3Harris Technologies Inc (NYSE:LHX)

Robeco Institutional Asset Management B.V. boosted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 116,766 shares of the company's stock after acquiring an additional 3,637 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.06% of L3Harris Technologies worth $24,440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Belpointe Asset Management LLC lifted its position in 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 purchasing an additional 52 shares during the period. CWC Advisors LLC. raised its holdings in L3Harris Technologies by 2.1% during the 4th quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock worth $546,000 after buying an additional 53 shares during the period. Citizens Financial Group Inc. RI raised its holdings in L3Harris Technologies by 0.6% during the 4th quarter. Citizens Financial Group Inc. RI now owns 8,908 shares of the company's stock worth $1,873,000 after buying an additional 54 shares during the period. Riverwater Partners LLC raised its holdings in L3Harris Technologies by 3.1% during the 1st quarter. Riverwater Partners LLC now owns 1,773 shares of the company's stock worth $371,000 after buying an additional 54 shares during the period. Finally, BOKF NA grew its stake in shares of L3Harris Technologies by 0.3% during the 4th quarter. BOKF NA now owns 16,820 shares of the company's stock worth $3,503,000 after acquiring an additional 55 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

LHX has been the subject of several research reports. Citigroup raised their price target on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and raised their target price for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Wells Fargo & Company decreased their price objective on 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 increased their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Finally, Jefferies Financial Group decreased their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus price target of $258.75.

L3Harris Technologies Stock Up 0.3%

L3Harris Technologies stock opened at $247.52 on Friday. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $265.74. The firm has a market capitalization of $46.27 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 1.97 and a beta of 0.74. The firm's fifty day moving average price is $234.39 and its two-hundred day moving average price is $219.10. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released 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. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period last year, the firm earned $3.06 earnings per share. The business's quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.94%. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the sale, the chief executive officer now owns 145,572 shares in the company, valued at $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction dated 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 now owns 25,325 shares of the company's stock, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.