Bessemer Group Inc. Sells 2,474 Shares of L3Harris Technologies Inc (NYSE:LHX)

Bessemer Group Inc. cut its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 0.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,117,049 shares of the company's stock after selling 2,474 shares during the quarter. Bessemer Group Inc. owned 0.60% of L3Harris Technologies worth $233,809,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LHX. Independent Solutions Wealth Management LLC grew its stake in shares of L3Harris Technologies by 21.0% during the 1st quarter. Independent Solutions Wealth Management LLC now owns 1,422 shares of the company's stock worth $298,000 after acquiring an additional 247 shares in the last quarter. Mattern Capital Management LLC grew its position in L3Harris Technologies by 5.0% in the first quarter. Mattern Capital Management LLC now owns 39,972 shares of the company's stock valued at $8,367,000 after purchasing an additional 1,913 shares in the last quarter. Riverbend Wealth Management LLC acquired a new stake in L3Harris Technologies in the 1st quarter valued at $206,000. Daymark Wealth Partners LLC boosted its stake in shares of L3Harris Technologies by 1.7% during the 1st quarter. Daymark Wealth Partners LLC now owns 26,925 shares of the company's stock worth $5,636,000 after buying an additional 446 shares during the last quarter. Finally, Mill Capital Management LLC increased its position in shares of L3Harris Technologies by 0.3% in the first quarter. Mill Capital Management LLC now owns 61,394 shares of the company's stock valued at $12,850,000 after acquiring an additional 206 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Price Performance

LHX traded down $0.78 on Thursday, reaching $247.09. The stock had a trading volume of 1,956,621 shares, compared to its average volume of 1,149,493. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $46.19 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 1.98 and a beta of 0.74. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm has a 50-day moving average of $233.22 and a 200-day moving average of $218.86.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results 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 7.55% and a return on equity of 12.38%. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period last year, the company earned $3.06 EPS. The firm's revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a $1.20 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.94%. L3Harris Technologies's payout ratio is 56.94%.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction that occurred 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 directly owns 25,325 shares of the company's stock, valued at $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the business'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 transaction of $8,214,997.28. Following the completion of the transaction, the chief executive officer now owns 145,572 shares in the company, valued at $36,171,730.56. This trade represents a 18.51% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LHX has been the subject of a number of recent analyst reports. Citigroup increased their price target on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Wells Fargo & Company decreased 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. UBS Group boosted 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. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and increased their target price for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Jefferies Financial Group dropped their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus price target of $258.75.

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.