MML Investors Services LLC Acquires 4,148 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

MML Investors Services LLC grew its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,311 shares of the company's stock after purchasing an additional 4,148 shares during the period. MML Investors Services LLC's holdings in L3Harris Technologies were worth $9,528,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC grew its position in L3Harris Technologies by 1.8% during the fourth quarter. MetLife Investment Management LLC now owns 50,194 shares of the company's stock valued at $10,555,000 after buying an additional 873 shares during the period. Norinchukin Bank The grew its position in shares of L3Harris Technologies by 12.6% during the 4th quarter. Norinchukin Bank The now owns 9,136 shares of the company's stock valued at $1,921,000 after acquiring an additional 1,022 shares during the period. Capital International Inc. CA increased its stake in shares of L3Harris Technologies by 25.2% during the 4th quarter. Capital International Inc. CA now owns 59,802 shares of the company's stock worth $12,575,000 after purchasing an additional 12,027 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of L3Harris Technologies by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,412,818 shares of the company's stock worth $297,087,000 after purchasing an additional 14,344 shares during the period. Finally, First Trust Advisors LP lifted its stake in L3Harris Technologies by 6.4% in the fourth quarter. First Trust Advisors LP now owns 271,415 shares of the company's stock valued at $57,073,000 after purchasing an additional 16,417 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction that occurred 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 directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies 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 completion of the transaction, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded up $1.60 on Tuesday, hitting $220.36. 339,387 shares of the company traded hands, compared to its average volume of 1,012,047. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a market cap of $41.36 billion, a P/E ratio of 27.98, a P/E/G ratio of 2.42 and a beta of 0.71. The firm's 50-day simple moving average is $211.07 and its 200 day simple moving average is $221.77.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results 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 return on equity of 13.11% and a net margin of 7.04%. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter last year, the business posted $3.06 earnings per share. The company's revenue for the quarter was down 1.5% on a year-over-year basis. Analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on LHX shares. Citigroup dropped their price target on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Jefferies Financial Group cut their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Deutsche Bank Aktiengesellschaft dropped their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a research note on Thursday, January 2nd. UBS Group lifted their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday. Finally, Sanford C. Bernstein raised shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and lowered their target price for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.