Stifel Financial Corp Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

Stifel Financial Corp lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 230,692 shares of the company's stock after purchasing an additional 5,586 shares during the period. Stifel Financial Corp owned 0.12% of L3Harris Technologies worth $48,520,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position 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 acquiring an additional 401,168 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 purchasing an additional 53,787 shares during the last quarter. FMR LLC lifted its position in shares of L3Harris Technologies by 11.5% in the fourth quarter. FMR LLC now owns 2,261,999 shares of the company's stock worth $475,653,000 after purchasing an additional 233,968 shares in the last quarter. Invesco Ltd. boosted its holdings 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 purchasing an additional 522,861 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in L3Harris Technologies in the fourth quarter valued at $398,507,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies 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 of the company's stock, valued at $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

L3Harris Technologies Trading Up 1.1 %

Shares of NYSE LHX traded up $2.41 during midday trading on Tuesday, reaching $221.17. The stock had a trading volume of 428,624 shares, compared to its average volume of 1,012,432. 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 quick ratio of 0.90 and a current ratio of 1.08. The company's 50 day moving average price is $211.07 and its 200 day moving average price is $221.77. The firm has a market cap of $41.52 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued 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. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the previous year, the firm earned $3.06 earnings per share. The company's revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's payout ratio is currently 56.94%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Susquehanna cut their price objective on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. UBS Group lifted their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research note on Monday. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and increased their target price for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Raymond James downgraded shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Finally, Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and reduced their price target for the stock from $289.00 to $267.00 in a research 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's stock. According to data from MarketBeat.com, the stock 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.