Johnson Financial Group Inc. Has $79,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Johnson Financial Group Inc. trimmed its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 82.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371 shares of the company's stock after selling 1,743 shares during the quarter. Johnson Financial Group Inc.'s holdings in L3Harris Technologies were worth $79,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morse Asset Management Inc acquired a new stake in shares of L3Harris Technologies during the 3rd quarter valued at $119,000. World Investment Advisors LLC grew its holdings in shares of L3Harris Technologies by 220.3% during the third quarter. World Investment Advisors LLC now owns 32,580 shares of the company's stock worth $7,750,000 after purchasing an additional 22,407 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of L3Harris Technologies in the third quarter valued at approximately $1,704,000. Synovus Financial Corp raised its holdings in L3Harris Technologies by 17.5% in the 3rd quarter. Synovus Financial Corp now owns 6,734 shares of the company's stock valued at $1,602,000 after buying an additional 1,003 shares during the last quarter. Finally, Peapack Gladstone Financial Corp boosted its position in L3Harris Technologies by 0.5% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 41,577 shares of the company's stock worth $9,890,000 after buying an additional 194 shares during the period. Institutional investors own 84.76% of the company's stock.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the insider now owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LHX shares. Citigroup cut their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company reduced their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Susquehanna cut their price objective on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada reissued a "sector perform" rating and set a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Finally, Sanford C. Bernstein upgraded shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $256.56.

L3Harris Technologies Trading Up 1.3 %

NYSE:LHX opened at $218.98 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The company has a market cap of $41.11 billion, a PE ratio of 27.82, a PEG ratio of 2.42 and a beta of 0.71. The firm has a 50-day moving average of $211.07 and a 200-day moving average of $221.77.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating 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 business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the firm posted $3.06 EPS. L3Harris Technologies's quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.19%. L3Harris Technologies's dividend payout ratio is currently 56.94%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.