43,295 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by Leeward Investments LLC MA

Leeward Investments LLC MA acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 43,295 shares of the company’s stock, valued at approximately $9,119,000.

Several other institutional investors have also recently modified their holdings of the stock. Morgan Stanley raised its holdings in L3Harris Technologies by 1.9% in the 3rd quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock valued at $436,684,000 after acquiring an additional 47,691 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in L3Harris Technologies by 4.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock valued at $430,049,000 after acquiring an additional 82,423 shares during the last quarter. Northern Trust Corp raised its holdings in L3Harris Technologies by 4.6% in the 3rd quarter. Northern Trust Corp now owns 1,570,639 shares of the company’s stock valued at $273,480,000 after acquiring an additional 68,545 shares during the last quarter. Invesco Ltd. raised its holdings in L3Harris Technologies by 15.3% in the 3rd quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock valued at $254,187,000 after acquiring an additional 193,690 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in shares of L3Harris Technologies by 22.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after buying an additional 266,468 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LHX has been the subject of a number of research analyst reports. UBS Group upped their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Citigroup upped their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Royal Bank of Canada upped their price target on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target for the company in a research report on Thursday, January 11th. Finally, Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research report on Monday. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.60.

Insider Activity

In other news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction that occurred on 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 directly owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction that occurred on 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 directly owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 over the last three months. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

LHX traded up $7.18 on Friday, hitting $214.54. 2,131,337 shares of the company’s stock were exchanged, compared to its average volume of 1,126,049. The firm has a market cap of $40.79 billion, a PE ratio of 33.31, a P/E/G ratio of 1.93 and a beta of 0.65. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The stock has a fifty day moving average of $210.16 and a two-hundred day moving average of $201.28. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The company had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same quarter last year, the business earned $2.86 earnings per share. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 annualized dividend and a dividend yield of 2.16%. L3Harris Technologies’s payout ratio is currently 72.05%.

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.