L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,041,826 shares of the company’s stock after purchasing an additional 82,423 shares during the period. L3Harris Technologies makes up about 0.7% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 18th largest holding. Allspring Global Investments Holdings LLC’s holdings in L3Harris Technologies were worth $430,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in LHX. Acadian Asset Management LLC increased its stake in shares of L3Harris Technologies by 283.0% during the first quarter. Acadian Asset Management LLC now owns 1,103 shares of the company’s stock worth $272,000 after acquiring an additional 815 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of L3Harris Technologies in the first quarter worth about $8,013,000. Sei Investments Co. lifted its stake in shares of L3Harris Technologies by 14.2% in the first quarter. Sei Investments Co. now owns 62,374 shares of the company’s stock worth $15,643,000 after acquiring an additional 7,773 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in L3Harris Technologies by 18.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,372 shares of the company’s stock worth $838,000 after buying an additional 537 shares during the last quarter. Finally, Brighton Jones LLC raised its position in shares of L3Harris Technologies by 16.7% during the 1st quarter. Brighton Jones LLC now owns 1,230 shares of the company’s stock worth $306,000 after purchasing an additional 176 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 0.2 %

Shares of NYSE LHX traded down $0.38 during midday trading on Monday, reaching $208.58. 706,167 shares of the stock were exchanged, compared to its average volume of 1,144,898. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The business has a 50-day simple moving average of $211.34 and a two-hundred day simple moving average of $198.08. The company has a market capitalization of $39.65 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 1.94 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the business posted $3.27 EPS. L3Harris Technologies’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.22%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date was Thursday, March 7th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

Wall Street Analyst Weigh In

LHX has been the subject of a number of research analyst reports. TheStreet raised shares of L3Harris Technologies from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Royal Bank of Canada upped their price objective on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Raymond James lifted their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Deutsche Bank Aktiengesellschaft raised L3Harris Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $184.00 to $240.00 in a report on Friday, December 15th. Finally, Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $229.00.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is 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.