L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Cypress Capital Group

Cypress Capital Group cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 19.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,485 shares of the company's stock after selling 1,987 shares during the quarter. Cypress Capital Group's holdings in L3Harris Technologies were worth $1,784,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. KCM Investment Advisors LLC boosted its position in shares of L3Harris Technologies by 43.8% in the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company's stock worth $4,584,000 after buying an additional 5,868 shares in the last quarter. Fortem Financial Group LLC purchased a new stake in shares of L3Harris Technologies in the 3rd quarter worth about $841,000. Czech National Bank lifted its holdings in L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company's stock valued at $8,648,000 after purchasing an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock valued at $184,245,000 after purchasing an additional 178,407 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in 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. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Argus upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective on the stock in a report on Tuesday, November 26th. Barclays cut their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and cut their price objective for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Citigroup cut their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $261.47.

L3Harris Technologies Stock Up 1.8 %

Shares of L3Harris Technologies stock traded up $3.76 on Wednesday, hitting $210.84. 1,247,980 shares of the company's stock traded hands, compared to its average volume of 918,340. The stock has a market cap of $39.70 billion, a P/E ratio of 26.79, a PEG ratio of 2.42 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm's 50-day moving average is $208.77 and its 200 day moving average is $227.82. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (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%. Equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $1.20 per share. The ex-dividend date is Monday, March 10th. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.28%. L3Harris Technologies's dividend payout ratio (DPR) is 60.99%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the firm's 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 directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 4,901 shares of company stock worth $1,059,757. 0.87% of the stock is owned by 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.