National Pension Service Raises Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

National Pension Service increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 16.2% in the third quarter, HoldingsChannel reports. The firm owned 426,508 shares of the company’s stock after acquiring an additional 59,494 shares during the quarter. National Pension Service’s holdings in L3Harris Technologies were worth $101,453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of LHX. Mutual of America Capital Management LLC lifted its holdings in L3Harris Technologies by 1.8% in the first quarter. Mutual of America Capital Management LLC now owns 38,991 shares of the company’s stock valued at $8,309,000 after acquiring an additional 678 shares during the period. Jennison Associates LLC lifted its holdings in L3Harris Technologies by 39.7% in the first quarter. Jennison Associates LLC now owns 2,354 shares of the company’s stock valued at $502,000 after acquiring an additional 669 shares during the period. Mutual Advisors LLC lifted its holdings in L3Harris Technologies by 88.7% in the first quarter. Mutual Advisors LLC now owns 8,576 shares of the company’s stock valued at $1,827,000 after acquiring an additional 4,031 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $167,000. Finally, Callan Capital LLC purchased a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $212,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 8,964 shares of company stock valued at $2,179,119 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Barclays boosted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Citigroup boosted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada upped their target price on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.

L3Harris Technologies Price Performance

LHX opened at $247.07 on Tuesday. The stock’s 50-day moving average price is $239.07 and its 200 day moving average price is $229.39. L3Harris Technologies, Inc. has a 12-month low of $179.56 and a 12-month high of $258.89. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The firm has a market cap of $46.86 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 2.12 and a beta of 0.72.

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

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

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.