Mizuho Securities USA LLC Purchases 5,675 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Mizuho Securities USA LLC increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 46.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,976 shares of the company’s stock after buying an additional 5,675 shares during the period. Mizuho Securities USA LLC’s holdings in L3Harris Technologies were worth $3,780,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LHX. Raymond James Financial Inc. bought a new position in L3Harris Technologies during the fourth quarter worth $398,507,000. Boston Partners raised its stake in L3Harris Technologies by 20.2% during the fourth quarter. Boston Partners now owns 1,178,741 shares of the company’s stock worth $247,893,000 after buying an additional 198,243 shares during the last quarter. National Pension Service raised its stake in L3Harris Technologies by 42.1% during the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock worth $127,440,000 after buying an additional 179,539 shares during the last quarter. JPMorgan Chase & Co. raised its stake in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in L3Harris Technologies by 132.4% during the fourth quarter. Victory Capital Management Inc. now owns 280,540 shares of the company’s stock worth $58,992,000 after buying an additional 159,806 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on LHX shares. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Truist Financial reduced their price target 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. Morgan Stanley reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, UBS Group raised their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $261.40.

L3Harris Technologies Stock Down 0.8 %

Shares of NYSE LHX opened at $208.15 on Monday. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The stock has a market capitalization of $39.07 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a 50-day moving average price of $209.80 and a 200-day moving average price of $226.13. 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 (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.31%. L3Harris Technologies’s payout ratio is 60.99%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The stock was 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 directly owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,334 shares of company stock worth $1,383,709. 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.