JPMorgan Chase & Co. Sells 297,336 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

JPMorgan Chase & Co. lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 38.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 477,224 shares of the company's stock after selling 297,336 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.25% of L3Harris Technologies worth $100,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Measured Wealth Private Client Group LLC lifted its position in L3Harris Technologies by 5.5% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company's stock valued at $200,000 after purchasing an additional 50 shares in the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of L3Harris Technologies by 3.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company's stock valued at $328,000 after buying an additional 51 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in shares of L3Harris Technologies by 2.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company's stock valued at $514,000 after acquiring an additional 53 shares during the period. Klingman & Associates LLC increased its holdings in L3Harris Technologies by 2.8% in the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company's stock worth $406,000 after acquiring an additional 53 shares in the last quarter. Finally, Zullo Investment Group Inc. raised its stake in L3Harris Technologies by 3.2% during the 4th quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company's stock worth $361,000 after acquiring an additional 54 shares during the period. Institutional investors own 84.76% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LHX shares. Truist Financial dropped their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $269.00 to $268.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Sanford C. Bernstein upgraded L3Harris Technologies from a "market perform" rating to an "outperform" rating and cut their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, Citigroup decreased their target price on L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, L3Harris Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $260.69.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value 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. This represents a 5.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the 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 sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded down $1.81 during trading hours on Monday, reaching $200.25. The company's stock had a trading volume of 1,931,900 shares, compared to its average volume of 968,100. 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, Inc. has a one year low of $193.09 and a one year high of $265.74. The firm has a 50 day moving average price of $207.76 and a 200-day moving average price of $224.55. The stock has a market cap of $37.59 billion, a P/E ratio of 25.44, a P/E/G ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.40%. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies's payout ratio is presently 60.99%.

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.