L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Korea Investment CORP

Korea Investment CORP lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 15.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,015 shares of the company’s stock after buying an additional 16,580 shares during the period. Korea Investment CORP owned approximately 0.06% of L3Harris Technologies worth $25,657,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Measured Wealth Private Client Group LLC lifted its position in L3Harris Technologies by 5.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock worth $200,000 after acquiring an additional 50 shares during the period. Premier Path Wealth Partners LLC lifted its holdings in shares of L3Harris Technologies by 3.4% during the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock worth $328,000 after purchasing an additional 51 shares during the period. U.S. Capital Wealth Advisors LLC boosted its position in L3Harris Technologies by 2.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock valued at $514,000 after buying an additional 53 shares during the last quarter. Klingman & Associates LLC increased its holdings in L3Harris Technologies by 2.8% in the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock worth $406,000 after buying an additional 53 shares during the period. Finally, Zullo Investment Group Inc. raised its position in L3Harris Technologies by 3.2% during the 4th quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company’s stock worth $361,000 after buying an additional 54 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 2.5 %

LHX opened at $207.46 on Friday. The company has a market cap of $38.94 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a 50-day moving average price of $209.34 and a 200 day moving average price of $225.54. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last released its earnings results 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%. Sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s dividend payout ratio is 60.99%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LHX. Truist Financial cut their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Raymond James lowered 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 L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, UBS Group upped their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

Insider Transactions at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction that occurred on 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 owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,334 shares of company stock valued at $1,383,709. Corporate insiders own 0.72% of the company’s stock.

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.