Brown Advisory Inc. Lowers Holdings in L3Harris Technologies Inc (NYSE:LHX)

Brown Advisory Inc. decreased its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,662 shares of the company's stock after selling 6,503 shares during the period. Brown Advisory Inc.'s holdings in L3Harris Technologies were worth $5,581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LHX. Washington Trust Bank raised its holdings in shares of L3Harris Technologies by 6.9% during the first quarter. Washington Trust Bank now owns 53,082 shares of the company's stock valued at $11,111,000 after purchasing an additional 3,433 shares during the period. Financial Counselors Inc. acquired a new position in shares of L3Harris Technologies during the first quarter valued at about $296,000. Raleigh Capital Management Inc. raised its holdings in shares of L3Harris Technologies by 59.5% during the first quarter. Raleigh Capital Management Inc. now owns 2,543 shares of the company's stock valued at $532,000 after purchasing an additional 949 shares during the period. Callan Capital LLC raised its holdings in shares of L3Harris Technologies by 5.0% during the first quarter. Callan Capital LLC now owns 1,107 shares of the company's stock valued at $232,000 after purchasing an additional 53 shares during the period. Finally, TD Private Client Wealth LLC raised its holdings in shares of L3Harris Technologies by 28.1% in the 1st quarter. TD Private Client Wealth LLC now owns 9,057 shares of the company's stock worth $1,896,000 after acquiring an additional 1,986 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider directly owned 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the sale, the chief executive officer owned 145,572 shares in the company, valued at $36,171,730.56. The trade was a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Performance

Shares of LHX stock traded down $0.50 during trading hours on Friday, hitting $259.60. 954,594 shares of the company were exchanged, compared to its average volume of 1,159,991. The firm has a fifty day simple moving average of $242.10 and a 200 day simple moving average of $221.80. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $265.74. The stock has a market capitalization of $48.53 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 2.03 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. L3Harris Technologies's revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.06 EPS. Research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies's payout ratio is currently 56.94%.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of L3Harris Technologies from $260.00 to $279.00 and gave the stock a "buy" rating in a report on Friday. Citigroup upped their target price on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a report on Monday, June 9th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and upped their target price for the stock from $198.00 to $263.00 in a report on Friday, April 11th. UBS Group upped their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $259.94.

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.