Royal London Asset Management Ltd. Acquires 3,405 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Royal London Asset Management Ltd. boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,963 shares of the company’s stock after acquiring an additional 3,405 shares during the quarter. Royal London Asset Management Ltd.’s holdings in L3Harris Technologies were worth $19,128,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of L3Harris Technologies during the 4th quarter valued at about $398,507,000. Boston Partners raised its holdings in shares of L3Harris Technologies by 20.2% during the 4th quarter. Boston Partners now owns 1,178,741 shares of the company’s stock valued at $247,893,000 after buying an additional 198,243 shares in the last quarter. National Pension Service raised its holdings in shares of L3Harris Technologies by 42.1% during the 4th quarter. National Pension Service now owns 606,047 shares of the company’s stock valued at $127,440,000 after buying an additional 179,539 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of L3Harris Technologies by 132.4% during the 4th quarter. Victory Capital Management Inc. now owns 280,540 shares of the company’s stock valued at $58,992,000 after buying an additional 159,806 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on LHX. Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Bank of America decreased their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Susquehanna reduced their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,098 shares of company stock worth $1,760,588 over the last ninety days. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $208.15 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm has a market cap of $39.07 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.42 and a beta of 0.74. The business’s 50 day moving average price is $209.80 and its 200-day moving average price is $226.26.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $1.20 per share. The ex-dividend date was Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.31%. L3Harris Technologies’s payout ratio is currently 60.99%.

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.