L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,373 shares of the company's stock after selling 2,502 shares during the period. Kovitz Investment Group Partners LLC's holdings in L3Harris Technologies were worth $5,335,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Meeder Asset Management Inc. lifted its holdings in L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after buying an additional 82 shares during the period. Millstone Evans Group LLC bought a new position in L3Harris Technologies during the 4th quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in L3Harris Technologies in the 4th quarter worth approximately $27,000. Roxbury Financial LLC purchased a new stake in L3Harris Technologies during the fourth quarter valued at $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after purchasing an additional 111 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Price Performance

Shares of LHX stock remained flat at $220.02 during mid-day trading on Thursday. 872,603 shares of the company's stock traded hands, compared to its average volume of 1,012,811. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The stock has a market capitalization of $41.30 billion, a PE ratio of 27.96, a P/E/G ratio of 2.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock's 50-day moving average price is $211.98 and its two-hundred day moving average price is $221.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its 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 net margin of 7.04% and a return on equity of 13.11%. The company had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter in the prior year, the company posted $3.06 earnings per share. L3Harris Technologies's revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was 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 in the company, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their position. The transaction 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 the firm's 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 of the company's stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LHX. Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and lowered their price objective for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Wells Fargo & Company cut their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup dropped their price target on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Raymond James downgraded shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. Finally, Barclays dropped their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.56.

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.