Victory Capital Management Inc. Has $17.81 Million Stock Position in L3Harris Technologies Inc (NYSE:LHX)

Victory Capital Management Inc. cut its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 69.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,068 shares of the company's stock after selling 195,472 shares during the quarter. Victory Capital Management Inc.'s holdings in L3Harris Technologies were worth $17,806,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its position in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after buying an additional 82 shares during the last quarter. Millstone Evans Group LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $26,000. Beacon Capital Management LLC raised its stake in L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after purchasing an additional 111 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at $37,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LHX has been the subject of a number of research analyst reports. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. UBS Group lifted their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday. Jefferies Financial Group decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Truist Financial raised their target price on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Royal Bank Of Canada lifted their price target on L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research report on Friday. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $275.18.

L3Harris Technologies Price Performance

LHX traded down $3.30 during trading on Friday, reaching $269.92. 1,187,725 shares of the stock were exchanged, compared to its average volume of 1,459,737. The business's 50 day moving average price is $250.37 and its two-hundred day moving average price is $225.17. 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 company has a market capitalization of $50.46 billion, a price-to-earnings ratio of 32.02, a P/E/G ratio of 2.10 and a beta of 0.75. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $280.03.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.48 by $0.30. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.24 earnings per share. As a group, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.78%. L3Harris Technologies's dividend payout ratio (DPR) is currently 56.94%.

Insider Buying and Selling

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

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.