L3Harris Technologies Inc (NYSE:LHX) Stock Holdings Trimmed by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 0.8% in the first quarter, HoldingsChannel reports. The fund owned 99,708 shares of the company’s stock after selling 780 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in L3Harris Technologies were worth $20,870,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Belpointe Asset Management LLC raised its position in shares of L3Harris Technologies by 0.7% in the fourth quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company’s stock valued at $1,476,000 after purchasing an additional 52 shares during the period. CWC Advisors LLC. grew its stake in L3Harris Technologies by 2.1% in the 4th quarter. CWC Advisors LLC. now owns 2,596 shares of the company’s stock valued at $546,000 after buying an additional 53 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in L3Harris Technologies by 0.6% in the 4th quarter. Citizens Financial Group Inc. RI now owns 8,908 shares of the company’s stock worth $1,873,000 after acquiring an additional 54 shares during the period. Riverwater Partners LLC raised its holdings in L3Harris Technologies by 3.1% in the 1st quarter. Riverwater Partners LLC now owns 1,773 shares of the company’s stock worth $371,000 after acquiring an additional 54 shares during the period. Finally, BOKF NA lifted its position in L3Harris Technologies by 0.3% during the 4th quarter. BOKF NA now owns 16,820 shares of the company’s stock worth $3,503,000 after acquiring an additional 55 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LHX. Citigroup lifted their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. UBS Group lifted their price target on L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Wells Fargo & Company cut their price target on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and raised their price objective for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Jefferies Financial Group dropped their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $258.75.

Insiders Place Their Bets

In related news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider now owns 25,325 shares in the company, valued at $6,204,625. This trade represents a 7.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the transaction, the chief executive officer now directly owns 145,572 shares of the company’s stock, valued at $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $248.20 on Thursday. The firm has a market cap of $46.40 billion, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 1.97 and a beta of 0.74. The firm’s 50-day simple moving average is $233.22 and its 200-day simple moving average is $218.86. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter last year, the company earned $3.06 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is 56.94%.

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.