Nicholas Company Inc. Sells 7,191 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Nicholas Company Inc. lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 91,414 shares of the company's stock after selling 7,191 shares during the period. Nicholas Company Inc.'s holdings in L3Harris Technologies were worth $19,223,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of L3Harris Technologies in the fourth quarter worth $398,507,000. National Pension Service lifted its holdings in L3Harris Technologies by 42.1% in the 4th quarter. National Pension Service now owns 606,047 shares of the company's stock worth $127,440,000 after purchasing an additional 179,539 shares during the last quarter. JPMorgan Chase & Co. lifted its stake 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 worth $184,245,000 after buying an additional 178,407 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock valued at $195,704,000 after acquiring an additional 166,262 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of L3Harris Technologies by 132.4% during the 4th quarter. Victory Capital Management Inc. now owns 280,540 shares of the company's stock worth $58,992,000 after purchasing an additional 159,806 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

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L3Harris Technologies Price Performance

Shares of LHX stock traded down $3.13 during trading hours on Thursday, reaching $209.91. The company's stock had a trading volume of 1,188,808 shares, compared to its average volume of 919,561. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $39.40 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 2.42 and a beta of 0.74. The firm's 50 day simple moving average is $209.74 and its 200-day simple moving average is $226.58.

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 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%. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a $1.20 dividend. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.29%. L3Harris Technologies's dividend payout ratio (DPR) is presently 60.99%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LHX. Susquehanna reduced their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Bank of America cut their price objective on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price target on the stock in a research report on Tuesday, November 26th. UBS Group increased their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, Barclays lowered their target price on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, L3Harris Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $261.40.

Insider Transactions at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 1,783 shares of the firm'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 value of $377,068.84. Following the transaction, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction 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 sale, the insider now directly owns 2,797 shares of the company's stock, valued at $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,098 shares of company stock worth $1,760,588 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

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.