Alpine Woods Capital Investors LLC Decreases Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Alpine Woods Capital Investors LLC decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 18.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,955 shares of the company's stock after selling 8,559 shares during the quarter. L3Harris Technologies makes up approximately 1.5% of Alpine Woods Capital Investors LLC's portfolio, making the stock its 13th biggest position. Alpine Woods Capital Investors LLC's holdings in L3Harris Technologies were worth $7,981,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies during the 4th quarter worth about $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies in the 4th quarter valued at about $30,000. Archer Investment Corp increased its holdings in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies during the 4th quarter worth approximately $33,000. Finally, New Millennium Group LLC grew its holdings in shares of L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company's stock valued at $39,000 after acquiring an additional 163 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LHX. 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. Argus raised L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective for the company in a research note on Tuesday, November 26th. Truist Financial dropped their price objective on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Morgan Stanley dropped their price objective on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Finally, Bank of America dropped their price objective on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $261.40.

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L3Harris Technologies Trading Down 0.2 %

Shares of NYSE LHX traded down $0.52 during trading hours on Tuesday, hitting $212.46. The company's stock had a trading volume of 973,928 shares, compared to its average volume of 924,415. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a market cap of $39.88 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The business has a 50-day simple moving average of $209.44 and a 200-day simple moving average of $226.84.

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%. On average, analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.26%. 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 payout ratio is presently 60.99%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction that occurred 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 sale, the insider now directly owns 2,797 shares of the company's stock, valued at $632,122. The trade was a 53.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ross Niebergall sold 1,373 shares of the business's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,098 shares of company stock valued at $1,760,588. 0.82% of the stock is currently owned by corporate insiders.

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.