L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its position in L3Harris Technologies, Inc. (NYSE:LHX) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,840 shares of the company’s stock after selling 6,668 shares during the quarter. Russell Investments Group Ltd.’s holdings in L3Harris Technologies were worth $15,106,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $398,507,000. Vanguard Group Inc. grew its position in L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the last quarter. Boston Partners increased its stake in L3Harris Technologies by 20.2% in the fourth quarter. Boston Partners now owns 1,178,741 shares of the company’s stock valued at $247,893,000 after purchasing an additional 198,243 shares during the period. National Pension Service raised its holdings in shares of L3Harris Technologies by 42.1% in the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock valued at $127,440,000 after buying an additional 179,539 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of several analyst reports. Barclays reduced their price objective 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. Morgan Stanley decreased their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Truist Financial lowered their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Susquehanna cut their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Bank of America lowered their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $256.56.

L3Harris Technologies Stock Down 0.1 %

Shares of NYSE:LHX opened at $214.04 on Friday. The company has a market capitalization of $40.18 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The company has a 50 day moving average of $207.40 and a two-hundred day moving average of $223.78. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $1.20 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.24%. L3Harris Technologies’s payout ratio is 60.99%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company 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.