Tocqueville Asset Management L.P. Trims Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Tocqueville Asset Management L.P. lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 40.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,315 shares of the company's stock after selling 14,553 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in L3Harris Technologies were worth $4,482,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fortem Financial Group LLC bought a new position in shares of L3Harris Technologies in the third quarter worth approximately $841,000. Czech National Bank lifted its stake in shares of L3Harris Technologies by 6.4% in the fourth quarter. Czech National Bank now owns 41,124 shares of the company's stock worth $8,648,000 after buying an additional 2,480 shares in 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 in the last quarter. Principal Financial Group Inc. lifted its stake in shares of L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock worth $52,395,000 after buying an additional 4,321 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its position in L3Harris Technologies by 13.9% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock valued at $7,602,000 after purchasing an additional 3,740 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

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L3Harris Technologies Stock Performance

LHX traded down $1.74 during midday trading on Friday, reaching $208.15. The company had a trading volume of 1,931,912 shares, compared to its average volume of 921,511. 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 business has a 50-day moving average of $209.80 and a two-hundred day moving average of $226.26. The company has a market cap of $39.07 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared 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 a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.31%. L3Harris Technologies's dividend payout ratio is presently 60.99%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, 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 transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ross Niebergall sold 1,764 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the sale, the insider now owns 6,812 shares in the company, valued at approximately $1,455,383.80. This trade represents a 20.57 % 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 valued at $1,760,588. Insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

LHX has been the subject of a number of research analyst reports. Bank of America cut their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada reiterated a "sector perform" rating and set a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Morgan Stanley reduced their price objective 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. UBS Group upped their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their price objective on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $261.40.

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.