OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 105.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,290 shares of the company's stock after purchasing an additional 36,590 shares during the quarter. L3Harris Technologies accounts for 1.2% of OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings, making the stock its 22nd largest holding. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in L3Harris Technologies were worth $14,991,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after buying an additional 82 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in L3Harris Technologies in the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at about $27,000. Roxbury Financial LLC acquired a new stake in L3Harris Technologies in the 4th quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake 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 valued at $30,000 after buying an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LHX shares. Citigroup dropped their price objective on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock 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 research note on Friday, January 31st. Bank of America lowered their price target on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Truist Financial cut their target price on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. reduced their price objective on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $256.56.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $218.92 on Tuesday. 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 has a market capitalization of $40.93 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.42 and a beta of 0.72. The business has a 50-day simple moving average of $214.09 and a 200 day simple moving average of $219.79. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year 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 (EPS) for the quarter, beating 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 net margin of 7.04% and a return on equity of 13.11%. L3Harris Technologies's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.06 earnings per share. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio (DPR) is 56.94%.

Insider Transactions at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction 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 sale, the insider now directly owns 30,620 shares of the company's stock, valued at $6,475,517.60. The trade was a 5.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction 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. The trade was a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

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.

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