Corient Private Wealth LLC Sells 39,211 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Corient Private Wealth LLC lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 29.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,843 shares of the company's stock after selling 39,211 shares during the quarter. Corient Private Wealth LLC owned 0.05% of L3Harris Technologies worth $20,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Fortem Financial Group LLC purchased a new position in shares of L3Harris Technologies in the 3rd quarter worth about $841,000. Czech National Bank raised its position in shares of L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company's stock worth $8,648,000 after purchasing an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock worth $184,245,000 after purchasing an additional 178,407 shares during the last quarter. Principal Financial Group Inc. raised its position in L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock worth $52,395,000 after buying an additional 4,321 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its position in L3Harris Technologies by 13.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock worth $7,602,000 after buying an additional 3,740 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

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L3Harris Technologies Price Performance

Shares of LHX traded down $1.74 during mid-day trading on Friday, hitting $208.15. 1,931,912 shares of the stock were exchanged, compared to its average volume of 921,511. The company has a market cap of $39.07 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The firm has a 50-day moving average of $209.80 and a two-hundred day moving average of $226.26. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

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%. On average, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.31%. The ex-dividend date 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 is presently 60.99%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the 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 in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,098 shares of company stock worth $1,760,588. Company insiders own 0.72% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on LHX shares. Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and decreased their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Morgan Stanley decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada reissued a "sector perform" rating and issued a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Argus raised L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price for the company in a research report on Tuesday, November 26th. Finally, Citigroup reduced their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $261.40.

About L3Harris Technologies

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.