Massachusetts Financial Services Co. MA Reduces Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,362,971 shares of the company's stock after selling 179,362 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.72% of L3Harris Technologies worth $286,606,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Potomac Fund Management Inc. ADV bought a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $1,441,000. Trexquant Investment LP purchased a new stake in L3Harris Technologies during the fourth quarter valued at approximately $21,279,000. Headlands Technologies LLC purchased a new stake in L3Harris Technologies in the fourth quarter worth $4,657,000. Geode Capital Management LLC raised its holdings in shares of L3Harris Technologies by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock valued at $1,004,418,000 after acquiring an additional 53,787 shares in the last quarter. Finally, Nemes Rush Group LLC grew its position in shares of L3Harris Technologies by 13.2% in the 4th quarter. Nemes Rush Group LLC now owns 32,392 shares of the company's stock worth $6,811,000 after buying an additional 3,785 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Finally, Bank of America lowered their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, L3Harris Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $259.06.

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Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of the business'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 transaction of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred 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 sale, 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. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Trading Up 7.0 %

Shares of NYSE:LHX traded up $14.02 during mid-day trading on Wednesday, hitting $214.77. The company had a trading volume of 3,826,677 shares, compared to its average volume of 984,343. The firm has a fifty day moving average price of $207.38 and a 200 day moving average price of $223.92. The company has a market capitalization of $40.32 billion, a PE ratio of 27.29, 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 one year low of $193.09 and a one year high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current 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 issued a $1.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.23%. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. L3Harris Technologies's payout ratio is 60.99%.

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.