Johnson Investment Counsel Inc. Boosts Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Johnson Investment Counsel Inc. lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 130.5% during the fourth quarter, Holdings Channel reports. The fund owned 3,241 shares of the company’s stock after acquiring an additional 1,835 shares during the period. Johnson Investment Counsel Inc.’s holdings in L3Harris Technologies were worth $682,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth $27,000. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth $30,000. Archer Investment Corp increased its position in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth $33,000. Finally, New Millennium Group LLC increased its position in shares of L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after acquiring an additional 163 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LHX. Royal Bank of Canada reaffirmed 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 lowered their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $261.40.

Insider Activity

In other news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were 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 approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the sale, the insider now directly owns 8,576 shares of the company’s stock, valued at $1,917,765.12. The trade was a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,862 shares of company stock valued at $2,155,054. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE LHX opened at $209.28 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a market capitalization of $39.41 billion, a PE ratio of 26.59, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a fifty day moving average of $209.15 and a two-hundred day moving average of $227.28.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates 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, analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.29%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

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.