Zacks Investment Management Sells 16,728 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Zacks Investment Management cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 168,228 shares of the company's stock after selling 16,728 shares during the quarter. Zacks Investment Management owned 0.09% of L3Harris Technologies worth $35,375,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Meeder Asset Management Inc. boosted its holdings in shares of L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after acquiring an additional 82 shares during the period. Millstone Evans Group LLC purchased a new stake in L3Harris Technologies in the fourth quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at $27,000. Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $30,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $33,000. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LHX has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada reiterated a "sector perform" rating and set a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Sanford C. Bernstein raised shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and reduced their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price objective for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of 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 fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $256.35.

L3Harris Technologies Stock Performance

NYSE:LHX traded down $5.01 during trading hours on Monday, reaching $213.21. The company had a trading volume of 425,124 shares, compared to its average volume of 1,000,752. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The firm has a market cap of $40.02 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 2.42 and a beta of 0.71. The firm's 50 day moving average price is $208.87 and its 200-day moving average price is $222.89.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS 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%. On average, analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.25%. L3Harris Technologies's dividend payout ratio is presently 60.99%.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now directly owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the firm'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 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 disclosure for this sale can be found here. 0.72% of the stock is 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.