Ascent Group LLC Trims Position in L3Harris Technologies, Inc. (NYSE:LHX)

Ascent Group LLC cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 69.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,466 shares of the company's stock after selling 3,365 shares during the period. Ascent Group LLC's holdings in L3Harris Technologies were worth $308,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after buying an additional 82 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in L3Harris Technologies in the 4th quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies in the 4th quarter worth about $27,000. Roxbury Financial LLC purchased a new position in L3Harris Technologies in the 4th quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after purchasing an additional 111 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction on Monday, March 10th. The shares were 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 of the company's stock, valued at $632,122. The trade was a 53.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,961 shares of company stock worth $1,585,297. Corporate insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research reports. Bank of America decreased their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Truist Financial decreased their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Citigroup decreased their target price on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. UBS Group lifted their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Finally, Morgan Stanley reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $256.56.

L3Harris Technologies Stock Up 0.4%

Shares of NYSE:LHX traded up $1.01 during trading on Friday, hitting $244.43. The company's stock had a trading volume of 2,784,686 shares, compared to its average volume of 1,098,218. The business has a 50 day moving average price of $220.25 and a two-hundred day moving average price of $218.01. The company has a market capitalization of $45.70 billion, a PE ratio of 31.06, a P/E/G ratio of 2.42 and a beta of 0.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

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

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.96%. L3Harris Technologies's payout ratio is currently 56.94%.

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.