Principal Financial Group Inc. Purchases 4,321 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Principal Financial Group Inc. boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 220,269 shares of the company’s stock after buying an additional 4,321 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of L3Harris Technologies worth $52,395,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. KCM Investment Advisors LLC raised its holdings in L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares during the period. Fortem Financial Group LLC bought a new stake in L3Harris Technologies during the third quarter worth about $841,000. Sanctuary Advisors LLC boosted its holdings in shares of L3Harris Technologies by 13.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $7,602,000 after buying an additional 3,740 shares during the last quarter. Creative Planning lifted its stake in L3Harris Technologies by 1.2% in the third quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after acquiring an additional 512 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in L3Harris Technologies during the third quarter worth about $35,904,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the sale, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 7,740 shares of company stock worth $1,866,384 over the last three months. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Trading Up 1.4 %

NYSE LHX opened at $213.55 on Monday. The stock has a market capitalization of $40.50 billion, a P/E ratio of 33.74, a P/E/G ratio of 1.91 and a beta of 0.72. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74. The business has a 50 day simple moving average of $242.42 and a 200 day simple moving average of $234.62. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

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

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Analyst Ratings Changes

A number of equities analysts have commented on LHX shares. Truist Financial lifted their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada boosted their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Citigroup upped their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $269.13.

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.