Fisher Asset Management LLC Increases Position in L3Harris Technologies, Inc. (NYSE:LHX)

Fisher Asset Management LLC increased its stake in L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 8.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,111 shares of the company’s stock after acquiring an additional 87 shares during the period. Fisher Asset Management LLC’s holdings in L3Harris Technologies were worth $276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tower Bridge Advisors grew its position in L3Harris Technologies by 1.1% in the first quarter. Tower Bridge Advisors now owns 30,512 shares of the company’s stock worth $7,581,000 after acquiring an additional 325 shares in the last quarter. National Bank of Canada FI boosted its position in L3Harris Technologies by 21.7% during the first quarter. National Bank of Canada FI now owns 17,329 shares of the company’s stock valued at $4,372,000 after buying an additional 3,095 shares during the period. Camden National Bank boosted its position in L3Harris Technologies by 1.4% during the first quarter. Camden National Bank now owns 26,733 shares of the company’s stock valued at $6,642,000 after buying an additional 372 shares during the period. Financial Architects Inc boosted its position in L3Harris Technologies by 30.1% during the first quarter. Financial Architects Inc now owns 2,216 shares of the company’s stock valued at $551,000 after buying an additional 513 shares during the period. Finally, Savant Capital LLC boosted its position in L3Harris Technologies by 28.6% during the first quarter. Savant Capital LLC now owns 2,114 shares of the company’s stock valued at $525,000 after buying an additional 470 shares during the period. 80.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Susquehanna cut their price target on shares of L3Harris Technologies from $302.00 to $298.00 in a research report on Monday, May 2nd. Susquehanna Bancshares cut their price target on shares of L3Harris Technologies from $302.00 to $298.00 in a research report on Monday, May 2nd. Finally, Jefferies Financial Group cut their price target on shares of L3Harris Technologies from $320.00 to $300.00 in a research report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $266.20.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $234.58 on Friday. The company has a market cap of $44.89 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 4.10 and a beta of 0.67. The company has a 50-day moving average price of $233.73 and a 200-day moving average price of $237.59. The company has a current ratio of 1.27, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. L3Harris Technologies, Inc. has a 12 month low of $200.71 and a 12 month high of $279.71.

L3Harris Technologies (NYSE:LHXGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The company reported $3.23 EPS for the quarter, beating the consensus estimate of $3.16 by $0.07. L3Harris Technologies had a net margin of 11.36% and a return on equity of 13.09%. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the prior year, the firm posted $3.26 earnings per share. The company’s quarterly revenue was down 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.41 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, September 1st. L3Harris Technologies’s payout ratio is currently 46.14%.

Insider Buying and Selling

In related news, VP James P. Girard sold 7,500 shares of the stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $240.00, for a total value of $1,800,000.00. Following the completion of the transaction, the vice president now directly owns 10,811 shares of the company’s stock, valued at $2,594,640. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by insiders.

L3Harris Technologies Company Profile

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L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

See Also

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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