Natixis Advisors L.P. Has $35.20 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Natixis Advisors L.P. boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 125.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,103 shares of the company’s stock after acquiring an additional 93,057 shares during the quarter. Natixis Advisors L.P. owned 0.09% of L3Harris Technologies worth $35,195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LHX. Cross Staff Investments Inc increased its holdings in shares of L3Harris Technologies by 12.4% in the fourth quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock worth $302,000 after acquiring an additional 158 shares in the last quarter. Sapient Capital LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $1,198,000. Bruce G. Allen Investments LLC bought a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $46,000. BKM Wealth Management LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth about $1,125,000. Finally, South Dakota Investment Council raised its position in L3Harris Technologies by 43.2% in the 3rd quarter. South Dakota Investment Council now owns 39,368 shares of the company’s stock valued at $6,855,000 after buying an additional 11,879 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Royal Bank of Canada raised their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Wells Fargo & Company reduced their price target on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Finally, Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a report on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.33.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the sale, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of LHX stock traded up $0.90 during trading on Friday, hitting $212.24. The company had a trading volume of 790,904 shares, compared to its average volume of 1,043,142. The stock’s 50-day moving average price is $210.22 and its 200 day moving average price is $202.31. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The firm has a market capitalization of $40.26 billion, a P/E ratio of 34.45, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the business earned $2.86 earnings per share. Equities analysts expect that L3Harris Technologies, Inc. will post 12.87 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s payout ratio is presently 75.32%.

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.