Cyrus J. Lawrence LLC Sells 2,886 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Cyrus J. Lawrence LLC lessened its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 8.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 32,736 shares of the company's stock after selling 2,886 shares during the quarter. Cyrus J. Lawrence LLC's holdings in L3Harris Technologies were worth $6,883,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of L3Harris Technologies by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company's stock worth $1,122,630,000 after buying an additional 59,008 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in L3Harris Technologies in the fourth quarter worth $398,507,000. Massachusetts Financial Services Co. MA increased its stake in L3Harris Technologies by 5.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company's stock valued at $366,875,000 after purchasing an additional 85,882 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of L3Harris Technologies by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company's stock worth $254,461,000 after purchasing an additional 32,979 shares in the last quarter. Finally, Boston Partners increased its position in L3Harris Technologies by 20.2% in the 4th quarter. Boston Partners now owns 1,178,741 shares of the company's stock valued at $247,893,000 after buying an additional 198,243 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

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Insider Activity

In other news, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,334 shares of company stock worth $1,383,709 in the last three months. Corporate insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LHX. Deutsche Bank Aktiengesellschaft cut their price target on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a report on Thursday, January 2nd. Citigroup decreased 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 note on Monday, February 10th. Barclays decreased their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Finally, Susquehanna lowered their price objective 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 analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $261.40.

L3Harris Technologies Stock Performance

LHX stock traded up $2.90 during midday trading on Monday, reaching $210.88. 861,448 shares of the company's stock traded hands, compared to its average volume of 921,607. The firm has a market capitalization of $39.59 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The company has a 50-day moving average price of $209.80 and a two-hundred day moving average price of $226.13. 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 quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced 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%. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.28%. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. L3Harris Technologies's dividend payout ratio (DPR) is presently 60.99%.

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.