Russell Investments Group Ltd. Decreases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Russell Investments Group Ltd. trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,840 shares of the company's stock after selling 6,668 shares during the period. Russell Investments Group Ltd.'s holdings in L3Harris Technologies were worth $15,106,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Wedbush Securities Inc. lifted its position in L3Harris Technologies by 1.9% in the fourth quarter. Wedbush Securities Inc. now owns 3,302 shares of the company's stock valued at $694,000 after purchasing an additional 61 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of L3Harris Technologies by 8.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,172,518 shares of the company's stock valued at $246,557,000 after acquiring an additional 89,859 shares during the period. KCM Investment Advisors LLC raised its stake in shares of L3Harris Technologies by 18.7% during the fourth quarter. KCM Investment Advisors LLC now owns 22,875 shares of the company's stock valued at $4,810,000 after acquiring an additional 3,602 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in L3Harris Technologies during the 4th quarter valued at about $11,498,000. Finally, Arete Wealth Advisors LLC raised its position in L3Harris Technologies by 9.0% during the 4th quarter. Arete Wealth Advisors LLC now owns 2,038 shares of the company's stock valued at $427,000 after purchasing an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

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L3Harris Technologies Stock Performance

NYSE LHX traded up $0.57 during trading hours on Monday, hitting $222.60. 1,266,368 shares of the company's stock traded hands, compared to its average volume of 997,206. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The firm has a market capitalization of $41.79 billion, a P/E ratio of 28.28, a P/E/G ratio of 2.42 and a beta of 0.71. The business's fifty day moving average price is $207.62 and its two-hundred day moving average price is $223.64.

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

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid 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 2.16%. L3Harris Technologies's payout ratio is 60.99%.

Insiders Place Their Bets

In related news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 2,797 shares of the company's stock, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Jefferies Financial Group cut their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Deutsche Bank Aktiengesellschaft cut their price objective on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a research report on Thursday, January 2nd. Raymond James downgraded L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. UBS Group lifted their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, Barclays lowered their price objective 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 investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $256.94.

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.