Banco Bilbao Vizcaya Argentaria S.A. Reduces Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Banco Bilbao Vizcaya Argentaria S.A. decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 23.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,743 shares of the company's stock after selling 1,796 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in L3Harris Technologies were worth $1,205,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Burling Wealth Partners LLC purchased a new position in L3Harris Technologies during the 4th quarter worth $1,593,000. Coppell Advisory Solutions LLC raised its holdings in L3Harris Technologies by 3.6% during the fourth quarter. Coppell Advisory Solutions LLC now owns 11,656 shares of the company's stock worth $2,436,000 after purchasing an additional 407 shares in the last quarter. Dark Forest Capital Management LP lifted its position in L3Harris Technologies by 279.7% in the fourth quarter. Dark Forest Capital Management LP now owns 7,077 shares of the company's stock valued at $1,488,000 after purchasing an additional 5,213 shares during the period. Harvest Investment Services LLC purchased a new stake in L3Harris Technologies in the 4th quarter valued at approximately $251,000. Finally, Hsbc Holdings PLC increased its position in L3Harris Technologies by 11.3% during the 4th quarter. Hsbc Holdings PLC now owns 349,495 shares of the company's stock worth $73,382,000 after purchasing an additional 35,571 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LHX shares. Truist Financial decreased their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a report on Friday, April 25th. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and upped their price target for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Susquehanna reduced their price objective on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company lowered their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $256.56.

L3Harris Technologies Trading Down 0.5 %

LHX traded down $1.07 during trading on Wednesday, hitting $220.16. The company's stock had a trading volume of 1,060,380 shares, compared to its average volume of 1,013,332. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The firm's 50 day moving average price is $211.56 and its 200-day moving average price is $221.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The stock has a market cap of $41.33 billion, a PE ratio of 27.97, a PEG ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.06 earnings per share. On average, analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.18%. L3Harris Technologies's payout ratio is 56.94%.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the business'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 transaction, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by 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.