Franklin Resources Inc. Has $54.17 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Franklin Resources Inc. boosted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 218,228 shares of the company’s stock after purchasing an additional 1,221 shares during the quarter. Franklin Resources Inc. owned 0.12% of L3Harris Technologies worth $54,171,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 236.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after buying an additional 695,582 shares during the period. Bank of New York Mellon Corp lifted its holdings in L3Harris Technologies by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after acquiring an additional 523,315 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in L3Harris Technologies by 65.2% in the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after acquiring an additional 171,420 shares during the period. International Assets Investment Management LLC increased its holdings in shares of L3Harris Technologies by 23,627.0% in the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after acquiring an additional 169,878 shares in the last quarter. Finally, Mizuho Markets Americas LLC raised its position in shares of L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after purchasing an additional 166,262 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Down 0.5 %

NYSE:LHX opened at $222.04 on Tuesday. The firm has a market capitalization of $42.11 billion, a price-to-earnings ratio of 35.08, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The stock’s 50 day moving average price is $244.74 and its two-hundred day moving average price is $235.02.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.19 earnings per share. Equities research analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were paid a $1.16 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 2.09%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

Analyst Upgrades and Downgrades

LHX has been the subject of several research analyst reports. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Tuesday, November 26th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Finally, Truist Financial lifted their price target on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $269.13.

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.