L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 8.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,009 shares of the company's stock after acquiring an additional 1,552 shares during the period. Westwood Holdings Group Inc.'s holdings in L3Harris Technologies were worth $3,997,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its stake 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 valued at $25,000 after purchasing an additional 82 shares during the last quarter. Millstone Evans Group LLC acquired a new position in L3Harris Technologies during the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies during the fourth quarter worth $27,000. Roxbury Financial LLC acquired a new position in L3Harris Technologies during the fourth quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LHX. UBS Group lifted their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Citigroup cut their price target on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Royal Bank of Canada reissued a "sector perform" rating and issued a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Truist Financial cut their price target on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Jefferies Financial Group cut their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $256.56.

L3Harris Technologies Stock Down 0.6%

Shares of NYSE LHX traded down $1.38 on Friday, hitting $237.81. The company had a trading volume of 2,359,028 shares, compared to its average volume of 1,069,314. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The business has a 50 day moving average of $216.98 and a two-hundred day moving average of $219.07. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $44.46 billion, a P/E ratio of 30.22, a PEG ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the prior year, the business earned $3.06 earnings per share. The company's revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

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.