Kesler Norman & Wride LLC Purchases 1,143 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Kesler Norman & Wride LLC grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,397 shares of the company’s stock after acquiring an additional 1,143 shares during the period. L3Harris Technologies comprises 1.3% of Kesler Norman & Wride LLC’s portfolio, making the stock its 27th largest position. Kesler Norman & Wride LLC’s holdings in L3Harris Technologies were worth $5,972,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Townsquare Capital LLC lifted its holdings in L3Harris Technologies by 18.5% in the 3rd quarter. Townsquare Capital LLC now owns 3,502 shares of the company’s stock worth $833,000 after buying an additional 547 shares during the period. Public Sector Pension Investment Board increased its stake in shares of L3Harris Technologies by 15.3% during the third quarter. Public Sector Pension Investment Board now owns 8,308 shares of the company’s stock valued at $1,976,000 after buying an additional 1,100 shares during the period. Verition Fund Management LLC raised its holdings in shares of L3Harris Technologies by 3.2% during the third quarter. Verition Fund Management LLC now owns 22,225 shares of the company’s stock valued at $5,287,000 after acquiring an additional 696 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in L3Harris Technologies in the third quarter worth $489,000. Finally, Kestra Investment Management LLC bought a new stake in L3Harris Technologies in the third quarter valued at $393,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LHX. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Citigroup decreased their price target 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. Truist Financial cut their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Barclays reduced their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $260.69.

Insiders Place Their Bets

In other news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred 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 sale, the insider now directly 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 legal filing with the SEC, which is available through this link. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

L3Harris Technologies Trading Up 0.2 %

NYSE:LHX opened at $209.71 on Wednesday. The stock has a market cap of $39.37 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 2.42 and a beta of 0.74. 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 company’s 50 day moving average price is $208.90 and its 200-day moving average price is $225.23. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 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%. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.29%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 60.99%.

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.