Mackenzie Financial Corp Buys 416 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Mackenzie Financial Corp raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,342 shares of the company’s stock after purchasing an additional 416 shares during the quarter. Mackenzie Financial Corp’s holdings in L3Harris Technologies were worth $3,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eagle Asset Management Inc. bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $224,000. KBC Group NV boosted its holdings in shares of L3Harris Technologies by 15.2% in the 4th quarter. KBC Group NV now owns 17,050 shares of the company’s stock worth $3,591,000 after purchasing an additional 2,248 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of L3Harris Technologies by 4.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 272,231 shares of the company’s stock valued at $57,337,000 after buying an additional 11,500 shares in the last quarter. NEOS Investment Management LLC raised its holdings in shares of L3Harris Technologies by 77.3% during the 4th quarter. NEOS Investment Management LLC now owns 2,691 shares of the company’s stock valued at $567,000 after buying an additional 1,173 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in L3Harris Technologies by 2.7% in the fourth quarter. Rafferty Asset Management LLC now owns 42,443 shares of the company’s stock worth $8,939,000 after buying an additional 1,133 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of several research reports. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and upped their price target for the company from $245.00 to $257.00 in a research report on Friday, July 26th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Susquehanna increased their target price on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Finally, Barclays raised their price target on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $247.08.

Insider Transactions at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the sale, the senior vice president now owns 47,616 shares in the company, valued at $11,189,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,402 shares of company stock valued at $6,861,855. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

NYSE LHX opened at $245.29 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The company has a market capitalization of $46.53 billion, a price-to-earnings ratio of 39.82, a PEG ratio of 2.04 and a beta of 0.73. The stock has a 50-day moving average of $231.19 and a 200 day moving average of $222.98. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $247.33.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the previous year, the company earned $2.97 earnings per share. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $1.16 per share. The ex-dividend date was Friday, September 6th. This represents a $4.64 annualized dividend and a yield of 1.89%. L3Harris Technologies’s payout ratio is 75.32%.

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.