Frontier Capital Management Co. LLC Has $45.37 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Frontier Capital Management Co. LLC trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 28.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 215,747 shares of the company's stock after selling 84,507 shares during the quarter. Frontier Capital Management Co. LLC owned 0.11% of L3Harris Technologies worth $45,367,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Franklin Resources Inc. increased its stake in shares of L3Harris Technologies by 0.6% in the third quarter. Franklin Resources Inc. now owns 218,228 shares of the company's stock worth $54,171,000 after buying an additional 1,221 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock valued at $52,395,000 after purchasing an additional 4,321 shares in the last quarter. Diversified Trust Co grew its stake in L3Harris Technologies by 65.2% in the fourth quarter. Diversified Trust Co now owns 1,802 shares of the company's stock worth $379,000 after purchasing an additional 711 shares in the last quarter. Douglas Lane & Associates LLC grew its position in shares of L3Harris Technologies by 6.8% in the 4th quarter. Douglas Lane & Associates LLC now owns 958 shares of the company's stock worth $201,000 after acquiring an additional 61 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of L3Harris Technologies by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,261 shares of the company's stock worth $8,676,000 after purchasing an additional 447 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. UBS Group raised their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Finally, Jefferies Financial Group lowered their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $256.56.

L3Harris Technologies Stock Performance

Shares of LHX stock traded down $0.50 during trading on Tuesday, reaching $218.46. The company had a trading volume of 511,975 shares, compared to its average volume of 1,024,133. The firm's 50 day simple moving average is $214.09 and its two-hundred day simple moving average is $219.79. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company has a market capitalization of $40.84 billion, a PE ratio of 27.76, a PEG ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. L3Harris Technologies's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.06 EPS. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.20%. L3Harris Technologies's dividend payout ratio is presently 56.94%.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction 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 sale, the insider now owns 30,620 shares of the company's stock, valued at $6,475,517.60. The trade was a 5.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company's stock, valued at $632,122. This represents 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 owned by corporate insiders.

L3Harris Technologies 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.