OneDigital Investment Advisors LLC Lowers Stake in L3Harris Technologies, Inc. (NYSE:LHX)

OneDigital Investment Advisors LLC decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 34.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,207 shares of the company's stock after selling 2,708 shares during the period. OneDigital Investment Advisors LLC's holdings in L3Harris Technologies were worth $1,095,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at $398,507,000. Invesco Ltd. increased its holdings in L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after buying an additional 522,861 shares during the last quarter. Vanguard Group Inc. raised its position in L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock worth $4,895,534,000 after acquiring an additional 401,168 shares during the period. Marshall Wace LLP boosted its stake in L3Harris Technologies by 8,438.8% in the fourth quarter. Marshall Wace LLP now owns 249,162 shares of the company's stock valued at $52,394,000 after acquiring an additional 246,244 shares during the last quarter. Finally, FMR LLC grew its position in shares of L3Harris Technologies by 11.5% during the 4th quarter. FMR LLC now owns 2,261,999 shares of the company's stock valued at $475,653,000 after acquiring an additional 233,968 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

NYSE LHX traded down $1.29 on Thursday, reaching $218.74. 250,919 shares of the stock were exchanged, compared to its average volume of 1,010,442. The firm has a market capitalization of $41.06 billion, a PE ratio of 27.82, a PEG ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The company's 50-day simple moving average is $211.98 and its two-hundred day simple moving average is $221.76. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

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 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 quarter in the prior year, the business posted $3.06 EPS. L3Harris Technologies's revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

Insider Activity

In other news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of 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 position. The sale 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 on 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 sale, the insider now owns 2,797 shares of the company's stock, valued at approximately $632,122. This represents a 53.19 % 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.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LHX. Jefferies Financial Group decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a research report on Thursday, January 2nd. Barclays lowered their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Truist Financial decreased their target price on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Bank of America dropped their price target on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of "Moderate Buy" and an average price target of $256.56.

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.