Dividend Assets Capital LLC Lowers Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Dividend Assets Capital LLC trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 8.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,900 shares of the company's stock after selling 3,738 shares during the period. L3Harris Technologies accounts for approximately 1.5% of Dividend Assets Capital LLC's holdings, making the stock its 24th largest position. Dividend Assets Capital LLC's holdings in L3Harris Technologies were worth $8,142,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of LHX. Meeder Asset Management Inc. lifted its position in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after buying an additional 82 shares in the last quarter. Millstone Evans Group LLC bought a new stake in L3Harris Technologies during the 4th quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies during the fourth quarter valued at approximately $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of L3Harris Technologies by 336.4% in the fourth 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 owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LHX shares. UBS Group lifted their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Citigroup raised their price target on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a report on Monday. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and upped their price objective for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Jefferies Financial Group reduced 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. Finally, Truist Financial decreased their target price on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $258.75.

L3Harris Technologies Trading Down 0.2%

Shares of L3Harris Technologies stock traded down $0.53 on Tuesday, reaching $244.89. The company had a trading volume of 926,971 shares, compared to its average volume of 1,103,301. The firm has a market cap of $45.78 billion, a price-to-earnings ratio of 31.12, a P/E/G ratio of 2.42 and a beta of 0.74. 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 firm's 50-day moving average price is $224.21 and its two-hundred day moving average price is $217.92. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74.

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

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.96%. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

Insider Activity

In related news, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider now directly owns 25,325 shares of the company's stock, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company's stock.

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.