Sei Investments Co. Boosts Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Sei Investments Co. grew its position in L3Harris Technologies, Inc. (NYSE:LHX) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,420 shares of the company’s stock after purchasing an additional 30,670 shares during the quarter. Sei Investments Co. owned about 0.14% of L3Harris Technologies worth $54,128,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after purchasing an additional 59,008 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in L3Harris Technologies in the fourth quarter worth about $398,507,000. Charles Schwab Investment Management Inc. boosted its holdings in L3Harris Technologies by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock worth $254,461,000 after acquiring an additional 32,979 shares in the last quarter. Boston Partners increased its position in shares of L3Harris Technologies by 20.2% in the 4th quarter. Boston Partners now owns 1,178,741 shares of the company’s stock valued at $247,893,000 after acquiring an additional 198,243 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,334 shares of company stock valued at $1,383,709. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on LHX. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Wells Fargo & Company cut their price objective on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Bank of America decreased their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Citigroup reduced their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $208.15 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The company has a 50-day simple moving average of $209.80 and a 200-day simple moving average of $226.13. The stock has a market capitalization of $39.07 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating the consensus estimate 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, analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.31%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

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.