Royal London Asset Management Ltd. Acquires 2,529 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Royal London Asset Management Ltd. lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 3.1% in the second quarter, HoldingsChannel.com reports. The fund owned 83,995 shares of the company’s stock after purchasing an additional 2,529 shares during the period. Royal London Asset Management Ltd.’s holdings in L3Harris Technologies were worth $18,864,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital World Investors increased its position in shares of L3Harris Technologies by 26.0% during the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after purchasing an additional 3,308,506 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of L3Harris Technologies by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock valued at $4,251,683,000 after buying an additional 2,692,771 shares in the last quarter. Mizuho Markets Americas LLC grew its stake in shares of L3Harris Technologies by 990.3% during the 4th quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock valued at $464,349,000 after acquiring an additional 2,002,475 shares during the period. Norges Bank bought a new position in shares of L3Harris Technologies in the fourth quarter worth approximately $325,147,000. Finally, Wellington Management Group LLP boosted its holdings in L3Harris Technologies by 34.7% in the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after buying an additional 1,138,549 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 0.4 %

LHX opened at $227.01 on Thursday. The stock has a fifty day moving average price of $230.89 and a 200-day moving average price of $220.95. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $245.60. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The firm has a market cap of $43.06 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 1.88 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same period in the previous year, the company earned $2.97 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a yield of 2.04%. L3Harris Technologies’s payout ratio is 75.32%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $11,189,760. The disclosure for this sale can be found here. Insiders have sold a total of 36,110 shares of company stock valued at $8,319,939 in the last ninety days. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on LHX. Susquehanna upped their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Barclays boosted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $247.08.

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.