Intact Investment Management Inc. Sells 25,020 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Intact Investment Management Inc. lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 90.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,600 shares of the company's stock after selling 25,020 shares during the period. Intact Investment Management Inc.'s holdings in L3Harris Technologies were worth $547,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. OneDigital Investment Advisors LLC raised its stake in L3Harris Technologies by 0.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock valued at $1,883,000 after purchasing an additional 40 shares during the period. Archer Investment Corp raised its stake in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after purchasing an additional 43 shares during the period. Measured Wealth Private Client Group LLC grew its holdings in shares of L3Harris Technologies by 5.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company's stock valued at $200,000 after acquiring an additional 50 shares in the last quarter. Avestar Capital LLC increased its stake in shares of L3Harris Technologies by 4.2% in the third quarter. Avestar Capital LLC now owns 1,255 shares of the company's stock worth $299,000 after acquiring an additional 51 shares during the last quarter. Finally, Premier Path Wealth Partners LLC increased its stake in shares of L3Harris Technologies by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company's stock worth $328,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

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Analyst Ratings Changes

LHX has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on L3Harris Technologies from $269.00 to $268.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. Citigroup lowered their price target on L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Truist Financial dropped their price objective on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Argus upgraded 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. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $261.40.

Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of the firm's 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 transaction, the insider now directly owns 2,797 shares of the company's stock, valued at $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the insider now directly owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,098 shares of company stock valued at $1,760,588. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

LHX stock traded down $3.13 during midday trading on Thursday, hitting $209.91. 1,188,752 shares of the company traded hands, compared to its average volume of 919,560. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. 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 business has a 50 day simple moving average of $209.74 and a 200-day simple moving average of $226.58. The stock has a market capitalization of $39.40 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data 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 research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.29%. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies's dividend payout ratio is currently 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.