Focused Investors LLC Has $91.98 Million Holdings in L3Harris Technologies Inc (NYSE:LHX)

Focused Investors LLC trimmed its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439,450 shares of the company's stock after selling 11,000 shares during the quarter. L3Harris Technologies accounts for 3.0% of Focused Investors LLC's holdings, making the stock its 18th biggest holding. Focused Investors LLC owned 0.23% of L3Harris Technologies worth $91,981,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LHX. Brighton Jones LLC lifted its position in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after acquiring an additional 3,001 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of L3Harris Technologies by 3.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 18,037 shares of the company's stock valued at $3,793,000 after acquiring an additional 576 shares during the period. Frank Rimerman Advisors LLC lifted its position in shares of L3Harris Technologies by 8.3% during the 4th quarter. Frank Rimerman Advisors LLC now owns 1,425 shares of the company's stock worth $300,000 after buying an additional 109 shares during the last quarter. Globeflex Capital L P bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $105,000. Finally, Glenview Trust co bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $274,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

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 owned 25,325 shares of the company's stock, valued at $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the sale, the chief executive officer directly owned 145,572 shares of the company's stock, valued at $36,171,730.56. This represents a 18.51% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on LHX. Truist Financial upped their price objective on L3Harris Technologies from $260.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday. UBS Group upped their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group upgraded 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 report on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $263.81.

L3Harris Technologies Trading Down 0.7%

Shares of LHX stock traded down $1.82 on Tuesday, hitting $260.49. The company had a trading volume of 266,330 shares, compared to its average volume of 1,441,845. The firm has a market cap of $48.70 billion, a P/E ratio of 30.91, a P/E/G ratio of 2.03 and a beta of 0.75. The stock's 50-day moving average is $242.98 and its two-hundred day moving average is $222.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $265.74.

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

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.84%. L3Harris Technologies's payout ratio is 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.