Price T Rowe Associates Inc. MD Sells 149,766 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Price T Rowe Associates Inc. MD lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,651,474 shares of the company's stock after selling 149,766 shares during the period. Price T Rowe Associates Inc. MD owned approximately 5.09% of L3Harris Technologies worth $2,029,512,000 at the end of the most recent quarter.

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

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded up $1.67 during trading on Monday, reaching $217.75. 348,783 shares of the stock traded hands, compared to its average volume of 1,424,244. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week 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 business has a fifty day simple moving average of $210.58 and a two-hundred day simple moving average of $221.96. The company has a market capitalization of $40.88 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.55 by ($0.14). The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed 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 yield of 2.20%. L3Harris Technologies's dividend payout ratio (DPR) is currently 60.99%.

Insiders Place Their Bets

In other news, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was 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 transaction was disclosed in a document filed with the SEC, 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. Corporate insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Bank of America reduced their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. 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 report on Friday. Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and cut their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. 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. Finally, The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price objective for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Five 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $257.25.

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.