Pictet Asset Management Holding SA Has $15.89 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Pictet Asset Management Holding SA lessened its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,550 shares of the company's stock after selling 1,675 shares during the quarter. Pictet Asset Management Holding SA's holdings in L3Harris Technologies were worth $15,887,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LHX. Fortem Financial Group LLC acquired a new position in shares of L3Harris Technologies during the 3rd quarter worth about $841,000. Czech National Bank lifted its holdings in shares of L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company's stock worth $8,648,000 after buying an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock valued at $184,245,000 after acquiring an additional 178,407 shares during the period. Principal Financial Group Inc. grew its stake in shares of L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock worth $52,395,000 after acquiring an additional 4,321 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its position in L3Harris Technologies by 13.9% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock worth $7,602,000 after acquiring an additional 3,740 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

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Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the 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 directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the business's 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 sale, the insider now owns 2,797 shares of the company's stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded down $7.92 during trading hours on Friday, hitting $202.03. 3,081,641 shares of the stock were exchanged, compared to its average volume of 964,244. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The business's 50-day moving average is $208.20 and its two-hundred day moving average is $224.76. 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 capitalization of $37.92 billion, a P/E ratio of 25.67, a P/E/G ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share 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%. Equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $1.20 per share. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.38%. L3Harris Technologies's dividend payout ratio is 60.99%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LHX. Susquehanna decreased their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Morgan Stanley reduced their price objective on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. 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. Finally, Jefferies Financial Group reduced their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $260.69.

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.