Global Retirement Partners LLC Has $117,000 Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Global Retirement Partners LLC lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 45.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 572 shares of the company’s stock after buying an additional 178 shares during the quarter. Global Retirement Partners LLC’s holdings in L3Harris Technologies were worth $117,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $342,413,000. Cowa LLC bought a new position in L3Harris Technologies in the 1st quarter valued at $26,000. Renaissance Technologies LLC increased its stake in shares of L3Harris Technologies by 284.1% in the 1st quarter. Renaissance Technologies LLC now owns 766,870 shares of the company’s stock valued at $150,491,000 after buying an additional 567,200 shares during the period. Two Sigma Investments LP bought a new stake in shares of L3Harris Technologies during the first quarter worth $83,532,000. Finally, Manning & Napier Group LLC lifted its stake in shares of L3Harris Technologies by 58.6% during the third quarter. Manning & Napier Group LLC now owns 1,034,176 shares of the company’s stock valued at $180,071,000 after acquiring an additional 381,997 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $209.03 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. The firm has a market capitalization of $39.74 billion, a PE ratio of 32.46, a P/E/G ratio of 1.90 and a beta of 0.65. The stock has a 50 day simple moving average of $211.34 and a 200 day simple moving average of $197.77. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.04. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.27 earnings per share. Sell-side analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.22%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend was Thursday, March 7th. L3Harris Technologies’s payout ratio is 72.05%.

Wall Street Analyst Weigh In

LHX has been the subject of several recent research reports. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a report on Thursday, January 11th. Truist Financial increased their price objective on shares of L3Harris Technologies from $224.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, December 14th. UBS Group lifted their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Finally, Raymond James lifted their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

Insider Buying and Selling

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the sale, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other L3Harris Technologies news, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now directly owns 1,543 shares in the company, valued at approximately $332,285.05. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares in the company, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,362 shares of company stock worth $10,261,360. 0.82% of the stock is owned by corporate insiders.

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.