L3Harris Technologies Inc (NYSE:LHX) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lowered its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 8.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,192 shares of the company's stock after selling 5,268 shares during the quarter. Cerity Partners LLC's holdings in L3Harris Technologies were worth $11,343,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LHX. Brighton Jones LLC boosted its stake in L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after purchasing an additional 3,001 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. Glenview Trust co acquired a new position in L3Harris Technologies in the 4th quarter worth about $274,000. SouthState Corp increased its stake in shares of L3Harris Technologies by 0.8% in the fourth quarter. SouthState Corp now owns 57,844 shares of the company's stock valued at $12,163,000 after buying an additional 474 shares during the period. Finally, Cibc World Markets Corp grew its stake in L3Harris Technologies by 16.3% during the fourth quarter. Cibc World Markets Corp now owns 29,960 shares of the company's stock worth $6,300,000 after purchasing an additional 4,194 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded up $0.73 during mid-day trading on Wednesday, reaching $261.90. The company had a trading volume of 263,707 shares, compared to its average volume of 1,156,602. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85. The stock's 50-day simple moving average is $243.87 and its 200-day simple moving average is $222.48. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a market capitalization of $48.96 billion, a P/E ratio of 31.09, a P/E/G ratio of 2.04 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released 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. The firm had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. L3Harris Technologies's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.06 EPS. On average, equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.83%. L3Harris Technologies's payout ratio is 56.94%.

Insider Buying and Selling at L3Harris Technologies

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 shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider owned 25,325 shares in the company, valued at $6,204,625. The trade was a 7.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 145,572 shares of the company's stock, valued at $36,171,730.56. The trade was a 18.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

LHX has been the subject of a number of recent research reports. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research report on Monday. Susquehanna set a $300.00 price target on L3Harris Technologies and gave the stock a "positive" rating in a research note on Monday. Wells Fargo & Company cut their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price objective for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Finally, Truist Financial boosted their target price on L3Harris Technologies from $260.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $263.81.

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.