L3Harris Technologies, Inc. (NYSE:LHX) Stock Holdings Lifted by M&T Bank Corp

M&T Bank Corp grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 13,503 shares of the company’s stock after buying an additional 232 shares during the quarter. M&T Bank Corp’s holdings in L3Harris Technologies were worth $2,840,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in shares of L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after buying an additional 59,008 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of L3Harris Technologies by 5.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after buying an additional 85,882 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of L3Harris Technologies by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock worth $254,461,000 after buying an additional 32,979 shares during the last quarter. Mizuho Markets Americas LLC lifted its position in shares of L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after buying an additional 166,262 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LHX. JPMorgan Chase & Co. reduced their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Susquehanna cut their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now directly owns 6,812 shares in the company, valued at $1,455,383.80. This represents a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 4,901 shares of company stock worth $1,059,757. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Trading Up 3.1 %

LHX stock opened at $220.47 on Friday. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The firm has a market cap of $41.52 billion, a P/E ratio of 28.01, a P/E/G ratio of 2.42 and a beta of 0.74. The business’s 50 day moving average is $208.94 and its 200-day moving average is $227.64. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be paid a $1.20 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s dividend payout ratio is currently 60.99%.

About L3Harris Technologies

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.