CIBC Private Wealth Group LLC Sells 29,882 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

CIBC Private Wealth Group LLC reduced its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 564,134 shares of the company’s stock after selling 29,882 shares during the period. CIBC Private Wealth Group LLC’s holdings in L3Harris Technologies were worth $116,860,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LHX. California Public Employees Retirement System lifted its holdings in L3Harris Technologies by 0.8% in the 4th quarter. California Public Employees Retirement System now owns 780,128 shares of the company’s stock worth $164,045,000 after buying an additional 6,096 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in L3Harris Technologies by 5.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 74,622 shares of the company’s stock worth $15,692,000 after acquiring an additional 4,150 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in L3Harris Technologies in the fourth quarter valued at $11,508,000. Allstate Corp bought a new position in L3Harris Technologies in the 4th quarter worth $1,169,000. Finally, Brown Brothers Harriman & Co. lifted its position in shares of L3Harris Technologies by 92.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,019 shares of the company’s stock worth $214,000 after purchasing an additional 489 shares during the period. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies 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 completion of the sale, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction dated Monday, March 10th. The shares were 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 directly owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,334 shares of company stock worth $1,383,709. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LHX shares. Barclays reduced their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Bank of America lowered their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Susquehanna reduced 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. Truist Financial lowered their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, 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 research report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. 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 Price Performance

Shares of LHX opened at $207.46 on Friday. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a market capitalization of $38.94 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The firm has a 50 day moving average of $209.34 and a 200 day moving average of $225.52. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its earnings results 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 anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $1.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.31%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

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.