Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,358 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 50,519 shares of the company’s stock after acquiring an additional 2,358 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in L3Harris Technologies were worth $10,640,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. GDS Wealth Management increased its position in shares of L3Harris Technologies by 184.5% during the 3rd quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock valued at $15,692,000 after purchasing an additional 58,441 shares during the last quarter. Sapient Capital LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at about $1,198,000. Bruce G. Allen Investments LLC purchased a new stake in L3Harris Technologies during the 4th quarter valued at about $46,000. Ceredex Value Advisors LLC boosted its holdings in L3Harris Technologies by 14.1% during the 3rd quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock valued at $117,315,000 after acquiring an additional 83,319 shares during the period. Finally, BKM Wealth Management LLC purchased a new stake in L3Harris Technologies during the 4th quarter valued at about $1,125,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Up 1.7 %

Shares of NYSE:LHX opened at $205.45 on Friday. The stock’s 50-day simple moving average is $210.30 and its two-hundred day simple moving average is $199.84. The stock has a market capitalization of $39.06 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 1.88 and a beta of 0.65. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data 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 company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.27 earnings per share. Analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.26%. L3Harris Technologies’s payout ratio is 72.05%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the sale, the insider now owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 in the last three months. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price for the company in a report on Thursday, January 11th. Royal Bank of Canada increased their target price on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, January 29th. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Finally, Raymond James upped their price target on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $229.00.

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.