L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 11.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,495 shares of the company's stock after acquiring an additional 35,571 shares during the quarter. Hsbc Holdings PLC owned approximately 0.18% of L3Harris Technologies worth $73,382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after purchasing an additional 401,168 shares during the last quarter. Geode Capital Management LLC raised its position in shares of L3Harris Technologies by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock valued at $1,004,418,000 after buying an additional 53,787 shares during the last quarter. FMR LLC lifted its stake in shares of L3Harris Technologies by 11.5% during the fourth quarter. FMR LLC now owns 2,261,999 shares of the company's stock valued at $475,653,000 after buying an additional 233,968 shares during the period. Invesco Ltd. boosted its position in L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after acquiring an additional 522,861 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in L3Harris Technologies in the 4th quarter worth approximately $398,507,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup reduced their price target on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. lowered their price target on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. UBS Group raised 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. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Bank of America reduced their price objective on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, L3Harris Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $256.56.

L3Harris Technologies Stock Down 0.6 %

Shares of L3Harris Technologies stock traded down $1.43 during trading on Wednesday, reaching $219.80. The company had a trading volume of 181,508 shares, compared to its average volume of 1,010,881. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm's fifty day moving average is $211.56 and its 200-day moving average is $221.77. The company has a market cap of $41.26 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. L3Harris Technologies's revenue for the quarter 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. On average, analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is presently 56.94%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on 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 sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by 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.