Brandywine Global Investment Management LLC Sells 4,198 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Brandywine Global Investment Management LLC decreased its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 112,963 shares of the company's stock after selling 4,198 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.06% of L3Harris Technologies worth $23,754,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at $398,507,000. Vanguard Group Inc. grew its holdings in L3Harris Technologies by 1.8% during the fourth 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 period. Boston Partners increased its position in L3Harris Technologies by 20.2% in the fourth quarter. Boston Partners now owns 1,178,741 shares of the company's stock worth $247,893,000 after buying an additional 198,243 shares in the last quarter. National Pension Service raised its stake in shares of L3Harris Technologies by 42.1% in the fourth quarter. National Pension Service now owns 606,047 shares of the company's stock worth $127,440,000 after buying an additional 179,539 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock valued at $184,245,000 after buying an additional 178,407 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

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L3Harris Technologies Trading Down 3.8 %

NYSE LHX traded down $7.92 during trading hours on Friday, hitting $202.03. 3,081,641 shares of the company were exchanged, compared to its average volume of 965,054. The stock has a market cap of $37.92 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The stock has a 50-day moving average price of $208.20 and a 200 day moving average price of $224.83. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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%. Analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.38%. 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. L3Harris Technologies's dividend payout ratio (DPR) is 60.99%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LHX. JPMorgan Chase & Co. lowered their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Sanford C. Bernstein raised shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and dropped their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Royal Bank of Canada restated a "sector perform" rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Jefferies Financial Group cut their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday. Finally, Susquehanna dropped their price target on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus target price of $260.69.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the 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 completion of 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 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.