Bessemer Group Inc. Has $235.41 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Bessemer Group Inc. trimmed its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,119,523 shares of the company's stock after selling 19,499 shares during the quarter. Bessemer Group Inc. owned 0.59% of L3Harris Technologies worth $235,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of LHX. Morse Asset Management Inc bought a new stake in shares of L3Harris Technologies during the third quarter valued at approximately $119,000. Orion Portfolio Solutions LLC grew its holdings in shares of L3Harris Technologies by 1.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,094 shares of the company's stock worth $2,639,000 after purchasing an additional 155 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of L3Harris Technologies by 8.5% during the third quarter. MML Investors Services LLC now owns 41,163 shares of the company's stock worth $9,791,000 after buying an additional 3,238 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in L3Harris Technologies in the 3rd quarter valued at $2,619,000. Finally, Nomura Asset Management Co. Ltd. boosted its stake in L3Harris Technologies by 4.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 55,901 shares of the company's stock worth $13,297,000 after purchasing an additional 2,216 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LHX. Truist Financial lowered their target price on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Jefferies Financial Group decreased their price target 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. UBS Group boosted their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Citigroup lowered their target price on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Bank of America cut their price target on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $256.94.

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Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of the company'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 completion of the transaction, the insider now directly owns 2,797 shares of the company's stock, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Trading Up 0.3 %

LHX traded up $0.74 during mid-day trading on Monday, hitting $222.77. The stock had a trading volume of 387,596 shares, compared to its average volume of 993,780. The stock's fifty day simple moving average is $207.62 and its 200-day simple moving average is $223.64. The firm has a market capitalization of $41.82 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-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.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a $1.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.15%. L3Harris Technologies's payout ratio is currently 60.99%.

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.