Philadelphia Trust Co. Reduces Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Philadelphia Trust Co. trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,391 shares of the company's stock after selling 4,847 shares during the period. L3Harris Technologies makes up approximately 2.1% of Philadelphia Trust Co.'s holdings, making the stock its 13th biggest holding. Philadelphia Trust Co. owned approximately 0.07% of L3Harris Technologies worth $28,680,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Meeder Asset Management Inc. lifted its position in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares during the last quarter. Millstone Evans Group LLC bought a new position in shares of L3Harris Technologies in the 4th quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies in the fourth quarter worth about $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies during the fourth quarter worth approximately $30,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in L3Harris Technologies during the fourth quarter valued at approximately $33,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Raymond James cut L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a report on Thursday, January 2nd. UBS Group upped their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, Susquehanna decreased their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, L3Harris Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $256.94.

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L3Harris Technologies Stock Down 0.8 %

NYSE LHX traded down $1.81 during midday trading on Tuesday, hitting $220.88. 1,261,899 shares of the company traded hands, compared to its average volume of 998,208. The company has a market cap of $41.46 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. 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 52 week low of $193.09 and a 52 week high of $265.74. The company's 50-day simple moving average is $207.89 and its 200-day simple moving average is $223.55.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) 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 forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.17%. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. L3Harris Technologies's dividend payout ratio (DPR) is 60.99%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction 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 approximately $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

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.