LSV Asset Management Sells 26,400 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

LSV Asset Management lowered its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 29.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,800 shares of the company's stock after selling 26,400 shares during the period. LSV Asset Management's holdings in L3Harris Technologies were worth $13,416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Scotia Capital Inc. raised its stake in L3Harris Technologies by 1.9% during the fourth quarter. Scotia Capital Inc. now owns 8,207 shares of the company's stock valued at $1,726,000 after buying an additional 152 shares during the last quarter. Martingale Asset Management L P boosted its stake in L3Harris Technologies by 33.7% in the 4th quarter. Martingale Asset Management L P now owns 48,513 shares of the company's stock worth $10,201,000 after purchasing an additional 12,222 shares in the last quarter. Bank of Nova Scotia increased its stake in L3Harris Technologies by 795.3% during the 4th quarter. Bank of Nova Scotia now owns 217,309 shares of the company's stock valued at $45,696,000 after purchasing an additional 193,038 shares in the last quarter. FIL Ltd raised its holdings in L3Harris Technologies by 71.9% in the fourth quarter. FIL Ltd now owns 227,079 shares of the company's stock worth $47,750,000 after buying an additional 94,990 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after buying an additional 522,861 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares of the company's stock, valued at $632,122. This trade represents a 53.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LHX. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Citigroup dropped their price objective on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley decreased their target price 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. Barclays dropped their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Finally, Raymond James cut shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $256.35.

L3Harris Technologies Stock Performance

Shares of NYSE LHX traded down $0.87 during trading on Friday, hitting $218.01. The company had a trading volume of 1,411,617 shares, compared to its average volume of 1,001,265. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. 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 firm has a market capitalization of $40.92 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The stock has a 50 day simple moving average of $208.64 and a 200 day simple moving average of $223.37.

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

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.20%. L3Harris Technologies's payout ratio is presently 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.