Fragasso Financial Advisors Inc Cuts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Fragasso Financial Advisors Inc cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 31.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,554 shares of the company's stock after selling 6,773 shares during the quarter. Fragasso Financial Advisors Inc's holdings in L3Harris Technologies were worth $3,046,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LHX. NBC Securities Inc. purchased a new position in shares of L3Harris Technologies during the 1st quarter valued at approximately $552,000. Czech National Bank increased its holdings in shares of L3Harris Technologies by 5.2% during the 1st quarter. Czech National Bank now owns 43,252 shares of the company's stock valued at $9,053,000 after purchasing an additional 2,128 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of L3Harris Technologies by 4.4% during the 1st quarter. Rhumbline Advisers now owns 337,066 shares of the company's stock valued at $70,551,000 after purchasing an additional 14,295 shares in the last quarter. Bowman & Co S.C. increased its holdings in shares of L3Harris Technologies by 7.4% during the 1st quarter. Bowman & Co S.C. now owns 4,923 shares of the company's stock valued at $1,032,000 after purchasing an additional 341 shares in the last quarter. Finally, Somerset Trust Co increased its holdings in shares of L3Harris Technologies by 7.6% during the 1st quarter. Somerset Trust Co now owns 19,488 shares of the company's stock valued at $4,079,000 after purchasing an additional 1,375 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LHX shares. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their target price for the company from $198.00 to $263.00 in a report on Friday, April 11th. 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 note on Monday, April 28th. Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Truist Financial dropped their price target 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. Finally, Jefferies Financial Group dropped their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average target price of $256.56.

Insider Transactions at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction dated 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 transaction, the insider now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company's stock, valued at approximately $632,122. This represents a 53.19% 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 Trading Down 0.2%

LHX traded down $0.47 on Thursday, hitting $241.84. The company had a trading volume of 369,056 shares, compared to its average volume of 1,097,768. The firm has a market cap of $45.21 billion, a P/E ratio of 30.73, a PEG ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company's fifty day moving average price is $222.19 and its 200 day moving average price is $218.33. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is presently 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.