L3Harris Technologies, Inc. (NYSE:LHX) Position Increased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,519 shares of the company’s stock after buying an additional 2,358 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in L3Harris Technologies were worth $10,640,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Eagle Bay Advisors LLC bought a new position in L3Harris Technologies in the 2nd quarter worth $30,000. Strategic Investment Solutions Inc. IL bought a new position in shares of L3Harris Technologies in the first quarter worth about $27,000. First Capital Advisors Group LLC. acquired a new position in shares of L3Harris Technologies during the 2nd quarter worth about $29,000. KB Financial Partners LLC boosted its stake in L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. Finally, Blue Trust Inc. grew its holdings in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the sale, the insider now directly owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,362 shares of company stock valued at $10,261,360. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on LHX. Citigroup raised their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. UBS Group boosted their target price on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Raymond James lifted their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada lifted their price objective on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $229.00.

L3Harris Technologies Stock Performance

Shares of LHX opened at $205.45 on Friday. The firm has a 50-day moving average of $210.30 and a 200-day moving average of $199.84. The company has a market cap of $39.06 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 1.88 and a beta of 0.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year 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 for the quarter, beating the consensus estimate of $3.31 by $0.04. The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The company’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.27 earnings per share. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.26%. L3Harris Technologies’s payout ratio is 72.05%.

About L3Harris Technologies

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.