L3Harris Technologies, Inc. (NYSE:LHX) Stock Holdings Trimmed by Washington Trust Bank

Washington Trust Bank lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,649 shares of the company's stock after selling 1,499 shares during the quarter. Washington Trust Bank's holdings in L3Harris Technologies were worth $10,440,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies during the fourth quarter worth approximately $27,000. Roxbury Financial LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth $30,000. Union Bancaire Privee UBP SA purchased a new position in shares of L3Harris Technologies in the 4th quarter worth $33,000. New Millennium Group LLC grew its position in L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company's stock valued at $39,000 after acquiring an additional 163 shares during the period. Finally, Trust Co. of Vermont increased its stake in L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company's stock worth $41,000 after acquiring an additional 86 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

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 stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ross Niebergall sold 1,373 shares of the company's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,334 shares of company stock valued at $1,383,709. Company insiders own 0.72% of the company's stock.

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Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Argus raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective for the company in a research report on Tuesday, November 26th. Morgan Stanley reduced their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Bank of America lowered their price target on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a research report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $261.40.

L3Harris Technologies Stock Up 1.4 %

L3Harris Technologies stock traded up $2.90 during midday trading on Monday, hitting $210.88. The stock had a trading volume of 576,109 shares, compared to its average volume of 921,607. The business has a fifty day moving average price of $209.80 and a 200 day moving average price of $226.13. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock has a market cap of $39.59 billion, a P/E ratio of 26.80, a P/E/G ratio of 2.42 and a beta of 0.74. 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 (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 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%. Research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $1.20 dividend. 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 2.28%. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies's dividend payout ratio (DPR) is presently 60.99%.

L3Harris Technologies Company 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.