KCM Investment Advisors LLC Acquires 3,602 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

KCM Investment Advisors LLC increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 18.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 22,875 shares of the company’s stock after purchasing an additional 3,602 shares during the quarter. KCM Investment Advisors LLC’s holdings in L3Harris Technologies were worth $4,810,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at $11,498,000. Arete Wealth Advisors LLC boosted its position in L3Harris Technologies by 9.0% during the fourth quarter. Arete Wealth Advisors LLC now owns 2,038 shares of the company’s stock valued at $427,000 after purchasing an additional 169 shares in the last quarter. World Investment Advisors grew its position in shares of L3Harris Technologies by 4.8% in the 4th quarter. World Investment Advisors now owns 34,156 shares of the company’s stock worth $7,182,000 after buying an additional 1,576 shares during the last quarter. Disciplined Investors L.L.C. acquired a new position in shares of L3Harris Technologies during the fourth quarter worth $426,000. Finally, Cinctive Capital Management LP boosted its stake in L3Harris Technologies by 25.1% in the 4th quarter. Cinctive Capital Management LP now owns 6,415 shares of the company’s stock worth $1,349,000 after purchasing an additional 1,288 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 3.8 %

Shares of LHX stock opened at $202.03 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $208.20 and its two-hundred day moving average is $224.83. The company has a market cap of $37.92 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results 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 return on equity of 13.11% and a net margin of 7.04%. Equities analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $1.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a yield of 2.38%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is currently 60.99%.

Analyst Ratings Changes

A number of analysts have recently weighed in on LHX shares. Citigroup cut their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Truist Financial cut their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $260.69.

Insider Activity

In related news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was 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 insiders.

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.