UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in L3Harris Technologies, Inc. (NYSE:LHX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 3.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 521,814 shares of the company's stock after selling 16,624 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.28% of L3Harris Technologies worth $109,727,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LHX. Measured Wealth Private Client Group LLC increased its position in shares of L3Harris Technologies by 5.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company's stock valued at $200,000 after buying an additional 50 shares in the last quarter. Belpointe Asset Management LLC grew its stake in L3Harris Technologies by 0.7% in the 4th quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock valued at $1,476,000 after acquiring an additional 52 shares during the period. U.S. Capital Wealth Advisors LLC increased its holdings in L3Harris Technologies by 2.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company's stock worth $514,000 after acquiring an additional 53 shares in the last quarter. Klingman & Associates LLC raised its position in L3Harris Technologies by 2.8% during the fourth quarter. Klingman & Associates LLC now owns 1,933 shares of the company's stock worth $406,000 after acquiring an additional 53 shares during the period. Finally, Zullo Investment Group Inc. lifted its holdings in L3Harris Technologies by 3.2% during the fourth quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company's stock valued at $361,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Trading Down 1.4%

LHX stock traded down $3.44 during midday trading on Wednesday, hitting $244.46. 2,804,359 shares of the company's stock were exchanged, compared to its average volume of 1,085,577. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $45.70 billion, a PE ratio of 31.06, a P/E/G ratio of 2.42 and a beta of 0.72. The business has a 50-day simple moving average of $218.24 and a two-hundred day simple moving average of $218.60.

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, topping analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period last year, the company earned $3.06 EPS. The company's quarterly revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal 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 issued a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.96%. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Insider Buying and Selling

In other news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. This represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares of the company's stock, valued at $632,122. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LHX has been the subject of several research reports. Morgan Stanley cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price objective on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Jefferies Financial Group lowered their target price 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. UBS Group increased their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Finally, Truist Financial lowered 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 report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $256.56.

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.