Man Group plc Has $57.68 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Man Group plc raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 63.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 274,299 shares of the company's stock after acquiring an additional 106,058 shares during the period. Man Group plc owned about 0.14% of L3Harris Technologies worth $57,680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LHX. Raymond James Financial Inc. acquired a new position in L3Harris Technologies in the fourth quarter valued at about $398,507,000. Invesco Ltd. lifted its holdings in shares of L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after purchasing an additional 522,861 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of L3Harris Technologies by 1.8% in the fourth 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 in the last quarter. Deutsche Bank AG lifted its holdings in shares of L3Harris Technologies by 64.2% in the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock valued at $155,691,000 after purchasing an additional 289,514 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $53,011,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Edward J. Zoiss sold 1,783 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $6,475,517.60. This represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were 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 directly owns 2,797 shares in the company, valued at $632,122. The trade was 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.

L3Harris Technologies Stock Up 1.6%

LHX traded up $3.56 on Friday, hitting $230.42. 1,576,954 shares of the company were exchanged, compared to its average volume of 1,041,058. The stock's fifty day moving average is $214.69 and its 200-day moving average is $219.35. The company has a market cap of $43.08 billion, a PE ratio of 29.28, a PEG ratio of 2.42 and a beta of 0.72. 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 12 month low of $193.09 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate 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 was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.06 earnings per share. Equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

Analyst Ratings Changes

A number of analysts have recently commented on LHX shares. UBS Group boosted their price target on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a report on Monday, April 28th. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price target for the company from $198.00 to $263.00 in a report on Friday, April 11th. JPMorgan Chase & Co. cut their price target on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Morgan Stanley cut their price target on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.56.

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.