2,535 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Purchased by Granite Investment Partners LLC

Granite Investment Partners LLC purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,535 shares of the company's stock, valued at approximately $533,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. Millstone Evans Group LLC acquired a new position in L3Harris Technologies during the 4th quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $27,000. Roxbury Financial LLC bought a new position in L3Harris Technologies in the fourth quarter valued at $30,000. Finally, Union Bancaire Privee UBP SA bought a new position in shares of L3Harris Technologies in the 4th quarter valued at about $33,000. Institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LHX shares. Bank of America reduced their price target on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Citigroup decreased their target price on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Morgan Stanley dropped their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and an average price target of $256.35.

L3Harris Technologies Trading Down 0.4 %

NYSE:LHX traded down $0.87 during mid-day trading on Friday, hitting $218.01. 1,411,617 shares of the company's stock were exchanged, compared to its average volume of 1,001,265. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a 50 day simple moving average of $208.64 and a 200-day simple moving average of $223.37. The firm has a market capitalization of $40.92 billion, a P/E ratio of 27.70, a PEG ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results 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%. As a group, research analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.20%. L3Harris Technologies's payout ratio is 60.99%.

Insider Activity

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the transaction, the insider now owns 30,620 shares of the company's stock, valued at $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

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.