Norris Perne & French LLP MI Has $20.62 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Norris Perne & French LLP MI increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,757 shares of the company’s stock after acquiring an additional 963 shares during the quarter. L3Harris Technologies accounts for about 1.5% of Norris Perne & French LLP MI’s holdings, making the stock its 23rd largest position. Norris Perne & French LLP MI owned approximately 0.05% of L3Harris Technologies worth $20,619,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of L3Harris Technologies by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock valued at $4,251,683,000 after purchasing an additional 2,692,771 shares in the last quarter. Capital World Investors lifted its holdings in shares of L3Harris Technologies by 26.0% during the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after acquiring an additional 3,308,506 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of L3Harris Technologies by 0.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,585,362 shares of the company’s stock worth $2,018,870,000 after acquiring an additional 40,448 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of L3Harris Technologies by 2.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock worth $1,084,176,000 after acquiring an additional 101,708 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after purchasing an additional 1,138,549 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $218.00, for a total value of $731,172.00. Following the sale, the vice president now owns 17,540 shares of the company’s stock, valued at $3,823,720. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $26,766,518.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the sale, the vice president now directly owns 17,540 shares in the company, valued at $3,823,720. The disclosure for this sale can be found here. Insiders have sold a total of 82,898 shares of company stock valued at $18,558,167 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on LHX. Wells Fargo & Company lifted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Royal Bank of Canada lifted their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, April 29th. JPMorgan Chase & Co. lifted their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research note on Monday, April 22nd. Finally, Barclays boosted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $231.80.

L3Harris Technologies Trading Up 0.6 %

Shares of NYSE:LHX traded up $1.40 during trading on Friday, hitting $224.58. 3,463,346 shares of the company’s stock were exchanged, compared to its average volume of 651,210. The firm has a market cap of $42.60 billion, a P/E ratio of 36.46, a PEG ratio of 1.87 and a beta of 0.71. The firm has a 50-day moving average price of $219.69 and a two-hundred day moving average price of $212.72. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $228.13.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.86 earnings per share. Equities analysts predict that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

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.