UNIVEST FINANCIAL Corp Has $8.84 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

UNIVEST FINANCIAL Corp grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 48.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,016 shares of the company’s stock after purchasing an additional 13,756 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in L3Harris Technologies were worth $8,835,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LHX. Raymond James Financial Inc. bought a new position in L3Harris Technologies during the 4th quarter valued at about $398,507,000. Vanguard Group Inc. grew its position in shares of L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after buying an additional 401,168 shares during the period. Boston Partners raised its position in shares of L3Harris Technologies by 20.2% during the 4th quarter. Boston Partners now owns 1,178,741 shares of the company’s stock valued at $247,893,000 after acquiring an additional 198,243 shares during the last quarter. National Pension Service lifted its stake in shares of L3Harris Technologies by 42.1% in the 4th quarter. National Pension Service now owns 606,047 shares of the company’s stock valued at $127,440,000 after purchasing an additional 179,539 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings 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. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research analyst reports. Truist Financial dropped their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Morgan Stanley decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Susquehanna decreased their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Bank of America decreased their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, Citigroup decreased their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, 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 at this link. Also, insider Jon Rambeau sold 3,178 shares of the company’s 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 $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,334 shares of company stock valued at $1,383,709. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $212.80 on Wednesday. The stock has a market capitalization of $39.95 billion, a PE ratio of 27.04, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The company has a 50 day moving average price of $209.70 and a 200-day moving average price of $225.87.

L3Harris Technologies (NYSE:LHX) last posted its quarterly 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 net margin of 7.04% and a return on equity of 13.11%. Equities analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $1.20 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.26%. L3Harris Technologies’s dividend payout ratio (DPR) is 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.