L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lowered its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,456,620 shares of the company's stock after selling 32,668 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 0.77% of L3Harris Technologies worth $306,298,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LHX. Raymond James Financial Inc. purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $398,507,000. National Pension Service lifted its position in shares of L3Harris Technologies by 42.1% during the 4th 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 last quarter. 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 worth $184,245,000 after buying an additional 178,407 shares during the last quarter. Mizuho Markets Americas LLC lifted its position in shares of L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock worth $195,704,000 after buying an additional 166,262 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of L3Harris Technologies by 132.4% during the 4th quarter. Victory Capital Management Inc. now owns 280,540 shares of the company's stock worth $58,992,000 after buying an additional 159,806 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

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Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now directly owns 6,812 shares of the company's stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm'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 sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,098 shares of company stock worth $1,760,588 in the last three months. Corporate insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Sanford C. Bernstein raised shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and cut their target price for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Susquehanna cut their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price 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. Barclays cut their target price 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. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $261.40.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded down $0.52 during trading on Tuesday, hitting $212.46. 973,928 shares of the company were exchanged, compared to its average volume of 924,415. The company has a market cap of $39.88 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The firm's fifty day moving average price is $209.44 and its 200 day moving average price is $226.84. 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 earnings results 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 net margin of 7.04% and a return on equity of 13.11%. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a $1.20 dividend. The ex-dividend date is 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 2.26%. L3Harris Technologies's payout ratio is currently 60.99%.

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.