National Bank of Canada FI Has $19.34 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

National Bank of Canada FI cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 22.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,985 shares of the company's stock after selling 26,532 shares during the quarter. National Bank of Canada FI's holdings in L3Harris Technologies were worth $19,343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its position in shares of L3Harris Technologies by 15.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 8,308 shares of the company's stock valued at $1,976,000 after acquiring an additional 1,100 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of L3Harris Technologies in the third quarter valued at about $147,000. Benjamin Edwards Inc. lifted its position in L3Harris Technologies by 605.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 11,175 shares of the company's stock worth $2,659,000 after buying an additional 9,590 shares in the last quarter. Hilltop Holdings Inc. bought a new stake in L3Harris Technologies during the 3rd quarter worth about $329,000. Finally, Investment Management Corp of Ontario increased its position in L3Harris Technologies by 47.2% in the 3rd quarter. Investment Management Corp of Ontario now owns 6,241 shares of the company's stock valued at $1,485,000 after acquiring an additional 2,000 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

LHX has been the topic of several research analyst reports. Citigroup decreased their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Sanford C. Bernstein upgraded L3Harris Technologies from a "market perform" rating to an "outperform" rating and decreased their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Raymond James cut L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Bank of America reduced their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft reduced 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. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $260.69.

L3Harris Technologies Stock Performance

LHX stock traded up $5.45 during trading hours on Tuesday, reaching $205.66. The stock had a trading volume of 714,797 shares, compared to its average volume of 1,337,533. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The stock has a 50-day simple moving average of $207.76 and a 200 day simple moving average of $224.55. The stock has a market capitalization of $38.61 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

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 analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a dividend of $1.20 per share. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies's dividend payout ratio is 60.99%.

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.