Norris Perne & French LLP MI Has $20.18 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Norris Perne & French LLP MI boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,794 shares of the company’s stock after purchasing an additional 815 shares during the period. L3Harris Technologies accounts for approximately 1.6% of Norris Perne & French LLP MI’s holdings, making the stock its 22nd largest holding. Norris Perne & French LLP MI owned approximately 0.05% of L3Harris Technologies worth $20,176,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cowa LLC bought a new position in L3Harris Technologies in the 1st quarter valued at $26,000. Mascoma Wealth Management LLC bought a new position in shares of L3Harris Technologies in the 3rd quarter worth $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of L3Harris Technologies in the 1st quarter worth $27,000. KB Financial Partners LLC boosted its position in shares of L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the last quarter. Finally, First Capital Advisors Group LLC. bought a new position in shares of L3Harris Technologies in the 2nd quarter worth $29,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, with a total value of $269,187.50. Following the acquisition, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 48,362 shares of company stock worth $10,261,360. Company insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on LHX. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price on the stock in a report on Thursday, January 11th. Raymond James lifted their target price on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Citigroup lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. TheStreet upgraded L3Harris Technologies from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Finally, Wells Fargo & Company reduced their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

L3Harris Technologies Price Performance

NYSE:LHX opened at $209.00 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. The stock’s 50-day simple moving average is $211.26 and its 200 day simple moving average is $197.17. The company has a market cap of $39.73 billion, a P/E ratio of 32.38, a P/E/G ratio of 1.98 and a beta of 0.65. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. The business had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. L3Harris Technologies’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.27 earnings per share. As a group, sell-side analysts forecast that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $1.16 per share. The ex-dividend date was Thursday, March 7th. This represents a $4.64 dividend on an annualized basis and a yield of 2.22%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

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.