Primecap Management Co. CA Has $52.23 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Primecap Management Co. CA cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 248,400 shares of the company's stock after selling 2,900 shares during the period. Primecap Management Co. CA owned about 0.13% of L3Harris Technologies worth $52,234,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Flagship Wealth Advisors LLC bought a new stake in L3Harris Technologies in the fourth quarter valued at $75,000. Cibc World Markets Corp grew its position in L3Harris Technologies by 16.3% in the fourth quarter. Cibc World Markets Corp now owns 29,960 shares of the company's stock valued at $6,300,000 after acquiring an additional 4,194 shares during the period. SouthState Corp grew its position in L3Harris Technologies by 0.8% in the fourth quarter. SouthState Corp now owns 57,844 shares of the company's stock valued at $12,163,000 after acquiring an additional 474 shares during the period. Glenview Trust co bought a new stake in L3Harris Technologies in the fourth quarter valued at $274,000. Finally, Globeflex Capital L P bought a new stake in L3Harris Technologies in the fourth quarter valued at $105,000. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,098 shares of company stock worth $1,760,588. 0.72% of the stock is owned by corporate insiders.

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L3Harris Technologies Trading Down 0.8 %

Shares of L3Harris Technologies stock traded down $1.74 during trading hours on Friday, hitting $208.15. The company's stock had a trading volume of 1,931,912 shares, compared to its average volume of 921,511. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock has a 50 day moving average of $209.80 and a 200 day moving average of $226.26. The company has a market capitalization of $39.07 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. 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 (NYSE:LHX - Get Free Report) last announced 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 return on equity of 13.11% and a net margin of 7.04%. Analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.31%. L3Harris Technologies's dividend payout ratio (DPR) is presently 60.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LHX shares. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $269.00 to $268.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. Barclays reduced their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. Susquehanna cut their price target on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their price objective on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $261.40.

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.