L3Harris Technologies, Inc. (NYSE:LHX) Stock Position Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 29.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 774,560 shares of the company’s stock after acquiring an additional 178,407 shares during the period. JPMorgan Chase & Co.’s holdings in L3Harris Technologies were worth $184,245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. KCM Investment Advisors LLC lifted its holdings in shares of L3Harris Technologies by 43.8% in the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares during the last quarter. Fortem Financial Group LLC acquired a new stake in L3Harris Technologies in the third quarter worth $841,000. Sanctuary Advisors LLC lifted its stake in L3Harris Technologies by 13.9% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $7,602,000 after buying an additional 3,740 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after acquiring an additional 4,321 shares during the period. Finally, Creative Planning grew its position in shares of L3Harris Technologies by 1.2% during the third quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after acquiring an additional 512 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Up 0.6 %

Shares of NYSE:LHX opened at $210.28 on Wednesday. The stock has a market capitalization of $39.88 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 1.91 and a beta of 0.72. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74. The company has a 50 day moving average price of $237.48 and a 200 day moving average price of $234.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $3.19 EPS. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a dividend of $1.16 per share. The ex-dividend date was Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 2.21%. L3Harris Technologies’s payout ratio is presently 73.30%.

Wall Street Analyst Weigh In

LHX has been the subject of several recent analyst reports. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Royal Bank of Canada boosted their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Citigroup upped their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $269.13.

L3Harris Technologies Company 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.