Cyrus J. Lawrence LLC Has $6.88 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Cyrus J. Lawrence LLC lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 8.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,736 shares of the company’s stock after selling 2,886 shares during the quarter. Cyrus J. Lawrence LLC’s holdings in L3Harris Technologies were worth $6,883,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of LHX. Millstone Evans Group LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies in the 4th quarter valued at $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies in the 4th quarter valued at $30,000. Union Bancaire Privee UBP SA bought a new position in shares of L3Harris Technologies in the 4th quarter valued at $33,000. Finally, New Millennium Group LLC lifted its stake in shares of L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Truist Financial dropped their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. Morgan Stanley dropped their price target 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, JPMorgan Chase & Co. dropped their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $208.15 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $209.80 and a two-hundred day moving average price of $226.26. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a market cap of $39.07 billion, a P/E ratio of 26.45, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $1.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.31%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Insider Activity

In other news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the transaction, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,098 shares of company stock worth $1,760,588 in the last three months. Company insiders own 0.72% of the company’s stock.

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.