L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Sei Investments Co.

Sei Investments Co. grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 257,420 shares of the company’s stock after acquiring an additional 30,670 shares during the period. Sei Investments Co.’s holdings in L3Harris Technologies were worth $54,128,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at $27,000. Roxbury Financial LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at $30,000. Union Bancaire Privee UBP SA purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at $33,000. Finally, New Millennium Group LLC raised its stake in shares of L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after buying an additional 163 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on LHX. Susquehanna lowered their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Citigroup dropped their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Morgan Stanley reduced their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company cut their price target on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Price Performance

LHX opened at $208.15 on Monday. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company’s 50 day simple moving average is $209.80 and its 200 day simple moving average is $226.13. The stock has a market capitalization of $39.07 billion, a PE ratio of 26.45, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

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

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were 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 2.31%. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s payout ratio is currently 60.99%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the transaction, the insider now 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was 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 directly owns 2,797 shares of the company’s stock, valued at $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,334 shares of company stock valued at $1,383,709. 0.72% of the stock is currently owned by corporate insiders.

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.