Zacks Investment Management Sells 16,728 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Zacks Investment Management lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 9.0% in the fourth quarter, Holdings Channel reports. The firm owned 168,228 shares of the company’s stock after selling 16,728 shares during the period. Zacks Investment Management’s holdings in L3Harris Technologies were worth $35,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in LHX. Marshall Wace LLP boosted its holdings in L3Harris Technologies by 8,438.8% in the 4th quarter. Marshall Wace LLP now owns 249,162 shares of the company’s stock valued at $52,394,000 after purchasing an additional 246,244 shares during the period. NewEdge Advisors LLC increased its holdings in shares of L3Harris Technologies by 0.8% in the fourth quarter. NewEdge Advisors LLC now owns 15,265 shares of the company’s stock worth $3,210,000 after buying an additional 125 shares during the period. Keeley Teton Advisors LLC boosted its stake in shares of L3Harris Technologies by 2.0% during the fourth quarter. Keeley Teton Advisors LLC now owns 5,141 shares of the company’s stock valued at $1,081,000 after purchasing an additional 100 shares during the period. Gabelli Funds LLC increased its position in shares of L3Harris Technologies by 0.5% in the fourth quarter. Gabelli Funds LLC now owns 91,424 shares of the company’s stock valued at $19,225,000 after acquiring an additional 475 shares during the period. Finally, Jump Financial LLC raised its position in L3Harris Technologies by 564.2% during the 4th quarter. Jump Financial LLC now owns 10,827 shares of the company’s stock valued at $2,277,000 after purchasing an additional 9,197 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.8 %

Shares of NYSE:LHX opened at $220.88 on Wednesday. The firm has a 50 day simple moving average of $208.18 and a 200-day simple moving average of $223.54. The company has a market capitalization of $41.46 billion, a PE ratio of 28.07, a P/E/G ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a dividend of $1.20 per share. The ex-dividend date was Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.17%. L3Harris Technologies’s payout ratio is currently 60.99%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the transaction, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following 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 position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LHX shares. Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Jefferies Financial Group lowered their price objective 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. UBS Group boosted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.94.

About L3Harris Technologies

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.