Cresset Asset Management LLC Has $4.47 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Cresset Asset Management LLC reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 33.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,248 shares of the company's stock after selling 10,487 shares during the quarter. Cresset Asset Management LLC's holdings in L3Harris Technologies were worth $4,468,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $398,507,000. Invesco Ltd. lifted its stake in shares of L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after buying an additional 522,861 shares during the period. Vanguard Group Inc. increased its holdings in L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock worth $4,895,534,000 after buying an additional 401,168 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of L3Harris Technologies during the 4th quarter valued at about $53,011,000. Finally, Marshall Wace LLP lifted its stake in shares of 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. 84.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

L3Harris Technologies Stock Down 0.2%

Shares of LHX traded down $0.47 during mid-day trading on Monday, reaching $218.92. 1,209,794 shares of the stock traded hands, compared to its average volume of 1,026,077. 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, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The stock has a fifty day simple moving average of $213.93 and a 200 day simple moving average of $220.02. The firm has a market cap of $40.93 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) 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 analysts' expectations 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% on a year-over-year basis. During the same period last year, the business posted $3.06 earnings per share. Sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.19%. L3Harris Technologies's dividend payout ratio is presently 56.94%.

Wall Street Analyst Weigh In

Several research firms have commented on LHX. Truist Financial cut their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Morgan Stanley decreased their target price 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. 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. Royal Bank of Canada reiterated a "sector perform" rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Finally, Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $256.56.

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.