Westwood Holdings Group Inc. Buys 1,552 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Westwood Holdings Group Inc. boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,009 shares of the company’s stock after purchasing an additional 1,552 shares during the quarter. Westwood Holdings Group Inc.’s holdings in L3Harris Technologies were worth $3,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after purchasing an additional 401,168 shares in the last quarter. Geode Capital Management LLC boosted its holdings in L3Harris Technologies by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock worth $1,004,418,000 after acquiring an additional 53,787 shares in the last quarter. FMR LLC boosted its holdings in L3Harris Technologies by 11.5% in the fourth quarter. FMR LLC now owns 2,261,999 shares of the company’s stock worth $475,653,000 after acquiring an additional 233,968 shares in the last quarter. Invesco Ltd. boosted its holdings in L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock worth $469,992,000 after acquiring an additional 522,861 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in L3Harris Technologies in the fourth quarter worth about $398,507,000. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent analyst reports. Jefferies Financial Group lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. Wells Fargo & Company lowered their price target on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Morgan Stanley lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and raised their price target for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Finally, Citigroup lowered their price target on L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.56.

Insider Activity at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. This trade represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Down 0.1%

Shares of LHX stock opened at $230.80 on Wednesday. The stock has a 50 day moving average of $215.52 and a 200 day moving average of $219.12. 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 stock has a market cap of $43.15 billion, a P/E ratio of 29.33, a P/E/G ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. L3Harris Technologies’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the business earned $3.06 earnings per share. As a group, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.08%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is currently 56.94%.

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.