L3Harris Technologies Inc (NYSE:LHX) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 85.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,380 shares of the company's stock after selling 31,236 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in L3Harris Technologies were worth $1,126,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in LHX. Meeder Asset Management Inc. lifted its holdings in L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares during the last quarter. Beacon Capital Management LLC boosted its position in shares of L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after acquiring an additional 111 shares in the last quarter. Park Square Financial Group LLC acquired a new position in L3Harris Technologies in the 4th quarter worth about $37,000. Finally, Cornerstone Planning Group LLC lifted its holdings in L3Harris Technologies by 323.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after buying an additional 139 shares during the period. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Trading Down 1.5%

NYSE:LHX traded down $4.15 during midday trading on Friday, hitting $269.07. The stock had a trading volume of 1,965,092 shares, compared to its average volume of 1,267,688. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.03. The company has a quick ratio of 0.85, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $251.14 and a 200 day moving average of $225.63. The company has a market capitalization of $50.30 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 2.13 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.30. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies's revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $3.24 earnings per share. As a group, sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio is currently 53.63%.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 33,061 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were 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 owned 145,572 shares of the company's stock, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider directly owned 25,325 shares of the company's stock, valued at $6,204,625. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group upped their price target on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Robert W. Baird raised their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $276.53.

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.