Hsbc Holdings PLC Acquires 35,571 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Hsbc Holdings PLC increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 11.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 349,495 shares of the company’s stock after acquiring an additional 35,571 shares during the period. Hsbc Holdings PLC owned about 0.18% of L3Harris Technologies worth $73,382,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LHX. Morse Asset Management Inc acquired a new position in shares of L3Harris Technologies in the 3rd quarter worth approximately $119,000. World Investment Advisors LLC lifted its holdings in shares of L3Harris Technologies by 220.3% during the third quarter. World Investment Advisors LLC now owns 32,580 shares of the company’s stock valued at $7,750,000 after acquiring an additional 22,407 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at $1,704,000. Synovus Financial Corp grew its holdings in shares of L3Harris Technologies by 17.5% in the 3rd quarter. Synovus Financial Corp now owns 6,734 shares of the company’s stock worth $1,602,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Peapack Gladstone Financial Corp lifted its holdings in L3Harris Technologies by 0.5% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 41,577 shares of the company’s stock valued at $9,890,000 after purchasing an additional 194 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Jefferies Financial Group dropped their price target on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Morgan Stanley lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Barclays reduced their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.50.

L3Harris Technologies Price Performance

Shares of LHX opened at $216.42 on Friday. The stock has a 50 day simple moving average of $210.17 and a 200 day simple moving average of $222.41. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-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 firm has a market capitalization of $40.63 billion, a PE ratio of 27.50, a P/E/G ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.55 by ($0.14). L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. Sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.22%. L3Harris Technologies’s payout ratio is presently 60.99%.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. 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.