International Assets Investment Management LLC Sells 169,429 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

International Assets Investment Management LLC reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 99.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,168 shares of the company's stock after selling 169,429 shares during the quarter. International Assets Investment Management LLC's holdings in L3Harris Technologies were worth $242,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LHX. Meeder Asset Management Inc. increased its holdings in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company's stock valued at $27,000 after purchasing an additional 86 shares during the period. Archer Investment Corp raised its holdings in L3Harris Technologies by 48.9% during the third 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. Kennebec Savings Bank acquired a new stake in L3Harris Technologies in the third quarter worth approximately $36,000. Ashton Thomas Private Wealth LLC bought a new position in L3Harris Technologies during the second quarter valued at about $57,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of L3Harris Technologies during the 3rd quarter valued at about $64,000. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded up $0.73 during mid-day trading on Tuesday, reaching $214.65. The company had a trading volume of 953,084 shares, compared to its average volume of 1,239,785. The company has a 50 day moving average of $229.70 and a 200-day moving average of $233.23. The firm has a market cap of $40.71 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 1.86 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts' consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.19 earnings per share. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a dividend of $1.16 per share. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.16%. L3Harris Technologies's payout ratio is presently 73.30%.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now owns 10,340 shares of the company's stock, valued at $2,563,596.20. This represents a 22.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 7,889 shares of company stock worth $1,800,572. Corporate insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a report on Thursday, January 2nd. Susquehanna reduced their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. StockNews.com raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Citigroup upped their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, Truist Financial reduced their price objective on L3Harris Technologies from $300.00 to $283.00 and set a "buy" rating for the company in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $265.25.

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.