Northern Trust Corp Has $342.98 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Northern Trust Corp lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 7.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,631,041 shares of the company's stock after acquiring an additional 116,266 shares during the quarter. Northern Trust Corp owned 0.86% of L3Harris Technologies worth $342,975,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Raymond James Financial Inc. acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $398,507,000. Invesco Ltd. raised its stake in shares of L3Harris Technologies by 30.5% in the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after acquiring an additional 522,861 shares during the period. Vanguard Group Inc. boosted its position in L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the period. Marshall Wace LLP lifted its position in L3Harris Technologies by 8,438.8% during the 4th quarter. Marshall Wace LLP now owns 249,162 shares of the company's stock worth $52,394,000 after acquiring an additional 246,244 shares in the last quarter. Finally, FMR LLC grew its position in L3Harris Technologies by 11.5% in the fourth quarter. FMR LLC now owns 2,261,999 shares of the company's stock valued at $475,653,000 after acquiring an additional 233,968 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on LHX. Wells Fargo & Company cut their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Truist Financial cut their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Susquehanna dropped their price target on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.56.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded down $2.71 during trading on Tuesday, hitting $215.91. 332,630 shares of the company's stock traded hands, compared to its average volume of 1,412,697. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The firm's fifty day moving average price is $213.02 and its 200 day moving average price is $220.80. The company has a market cap of $40.36 billion, a PE ratio of 27.43, a PEG ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. The company 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%. The business's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.06 earnings per share. Analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Insider Buying and Selling

In other L3Harris Technologies news, 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 transaction of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were 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 owns 30,620 shares of the company's stock, valued at $6,475,517.60. The trade was a 5.50 % 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.

L3Harris Technologies 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.