Carret Asset Management LLC Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Carret Asset Management LLC raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,480 shares of the company’s stock after acquiring an additional 98 shares during the period. Carret Asset Management LLC’s holdings in L3Harris Technologies were worth $3,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

L3Harris Technologies Stock Up 0.0 %

Shares of LHX traded up $0.03 during midday trading on Wednesday, reaching $207.71. 1,002,094 shares of the stock were exchanged, compared to its average volume of 1,112,701. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $210.23 and its two-hundred day moving average is $200.95. The company has a market capitalization of $39.49 billion, a P/E ratio of 32.24, a PEG ratio of 1.93 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. The business had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.27 EPS. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s dividend payout ratio (DPR) is currently 72.05%.

Insider Buying and Selling

In related news, Director William H. Swanson acquired 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William H. Swanson purchased 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 in the last three months. 0.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.