L3Harris Technologies, Inc. (NYSE:LHX) Stock Holdings Increased by M&T Bank Corp

M&T Bank Corp raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,503 shares of the company’s stock after acquiring an additional 232 shares during the period. M&T Bank Corp’s holdings in L3Harris Technologies were worth $2,840,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LHX. Bradley & Co. Private Wealth Management LLC bought a new stake in L3Harris Technologies during the 4th quarter valued at $27,000. Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter worth $30,000. Archer Investment Corp raised its stake in shares of L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of L3Harris Technologies in the 4th quarter worth $33,000. Finally, Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth $36,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $220.47 on Friday. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $41.52 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 2.42 and a beta of 0.74. The stock’s fifty day simple moving average is $208.94 and its 200-day simple moving average is $227.64.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates 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, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.20 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.18%. L3Harris Technologies’s payout ratio is currently 60.99%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 4,901 shares of company stock worth $1,059,757 over the last 90 days. 0.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on LHX. Truist Financial dropped their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. dropped their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Barclays dropped their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Finally, Citigroup decreased their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $261.40.

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.