Silvercrest Asset Management Group LLC Trims Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Silvercrest Asset Management Group LLC reduced its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 8.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,359 shares of the company's stock after selling 3,751 shares during the quarter. Silvercrest Asset Management Group LLC's holdings in L3Harris Technologies were worth $8,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of LHX. Rafferty Asset Management LLC grew its position in shares of L3Harris Technologies by 12.7% in the fourth quarter. Rafferty Asset Management LLC now owns 45,002 shares of the company's stock valued at $9,463,000 after purchasing an additional 5,079 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at $58,000. Point72 Asset Management L.P. grew its position in shares of L3Harris Technologies by 1.2% in the fourth quarter. Point72 Asset Management L.P. now owns 282,188 shares of the company's stock valued at $59,339,000 after purchasing an additional 3,240 shares in the last quarter. Point72 Hong Kong Ltd grew its position in shares of L3Harris Technologies by 2,666.4% in the fourth quarter. Point72 Hong Kong Ltd now owns 56,821 shares of the company's stock valued at $11,948,000 after purchasing an additional 54,767 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in shares of L3Harris Technologies by 14.3% in the fourth quarter. ProShare Advisors LLC now owns 27,460 shares of the company's stock valued at $5,774,000 after purchasing an additional 3,425 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 the company. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Morgan Stanley reduced their price target on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Truist Financial reduced their price target on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Royal Bank of Canada reissued a "sector perform" rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, UBS Group lifted their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. 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 company has an average rating of "Moderate Buy" and a consensus price target of $256.56.

L3Harris Technologies Price Performance

LHX stock traded down $1.38 during mid-day trading on Friday, hitting $237.81. 2,359,028 shares of the stock were exchanged, compared to its average volume of 1,071,895. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The business has a fifty day moving average price of $216.98 and a 200 day moving average price of $218.81. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock has a market capitalization of $44.46 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.42 and a beta of 0.72.

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 (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $5.29 billion. During the same quarter in the previous year, the company posted $3.06 earnings per share. The company's revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.02%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio (DPR) is currently 56.94%.

Insiders Place Their Bets

In other news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies 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 completion of the transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

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.