Fifth Third Bancorp Sells 10,147 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Fifth Third Bancorp trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 24.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,555 shares of the company's stock after selling 10,147 shares during the period. Fifth Third Bancorp's holdings in L3Harris Technologies were worth $6,395,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after acquiring an additional 401,168 shares in the last quarter. Geode Capital Management LLC grew its holdings in L3Harris Technologies by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock valued at $1,004,418,000 after buying an additional 53,787 shares during the last quarter. FMR LLC grew its holdings in L3Harris Technologies by 11.5% in the 4th quarter. FMR LLC now owns 2,261,999 shares of the company's stock valued at $475,653,000 after buying an additional 233,968 shares during the last quarter. Invesco Ltd. grew its holdings in L3Harris Technologies by 30.5% in the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after buying an additional 522,861 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in L3Harris Technologies in the 4th quarter valued at approximately $398,507,000. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on LHX shares. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and raised their target price for the company from $198.00 to $263.00 in a report on Friday, April 11th. Citigroup raised their target price on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a report on Monday, June 9th. Truist Financial lowered their target price on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a report on Friday, April 25th. UBS Group lifted their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Finally, Jefferies Financial Group decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $258.75.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider now owns 25,325 shares of the company's stock, valued at approximately $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded up $6.67 during midday trading on Friday, hitting $257.06. 3,049,243 shares of the company were exchanged, compared to its average volume of 1,125,393. 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 has a market cap of $48.06 billion, a P/E ratio of 32.66, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The firm has a 50 day simple moving average of $227.95 and a 200-day simple moving average of $218.27.

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 analysts' consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business's revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.06 earnings per share. Research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is currently 56.94%.

L3Harris Technologies 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.