Federated Hermes Inc. Has $9.51 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Federated Hermes Inc. grew its position in L3Harris Technologies, Inc. (NYSE:LHX) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,135 shares of the company’s stock after purchasing an additional 5,030 shares during the period. Federated Hermes Inc.’s holdings in L3Harris Technologies were worth $9,506,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of LHX. Vontobel Holding Ltd. raised its holdings in L3Harris Technologies by 15.4% in the third quarter. Vontobel Holding Ltd. now owns 1,285 shares of the company’s stock worth $224,000 after purchasing an additional 171 shares during the period. CWM LLC increased its position in shares of L3Harris Technologies by 8.2% during the third quarter. CWM LLC now owns 5,406 shares of the company’s stock worth $941,000 after acquiring an additional 408 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of L3Harris Technologies during the third quarter worth $411,000. Arkadios Wealth Advisors increased its position in shares of L3Harris Technologies by 24.5% during the third quarter. Arkadios Wealth Advisors now owns 1,505 shares of the company’s stock worth $262,000 after acquiring an additional 296 shares in the last quarter. Finally, HB Wealth Management LLC increased its position in shares of L3Harris Technologies by 19.2% during the third quarter. HB Wealth Management LLC now owns 2,438 shares of the company’s stock worth $425,000 after acquiring an additional 393 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other L3Harris Technologies news, Director William H. Swanson acquired 1,250 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

Shares of LHX opened at $207.62 on Wednesday. The firm has a 50-day moving average of $210.23 and a 200-day moving average of $200.95. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The company has a market cap of $39.47 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.91 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 (NYSE:LHX) last announced its quarterly earnings data on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the firm posted $3.27 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is presently 72.05%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LHX. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a research report on Thursday, January 11th. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Finally, Raymond James raised their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $229.60.

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.