L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC decreased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,375 shares of the company’s stock after selling 300 shares during the quarter. Intellectus Partners LLC’s holdings in L3Harris Technologies were worth $1,130,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of LHX. Robeco Institutional Asset Management B.V. raised its position in shares of L3Harris Technologies by 78.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 34,567 shares of the company’s stock worth $8,222,000 after buying an additional 15,191 shares in the last quarter. QRG Capital Management Inc. increased its stake in shares of L3Harris Technologies by 19.4% during the third quarter. QRG Capital Management Inc. now owns 3,001 shares of the company’s stock valued at $714,000 after acquiring an additional 487 shares during the period. Principal Financial Group Inc. raised its holdings in L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares in the last quarter. Verity Asset Management Inc. acquired a new stake in L3Harris Technologies in the third quarter worth approximately $616,000. Finally, Summit Global Investments bought a new position in L3Harris Technologies during the 3rd quarter valued at $334,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Bank of America dropped their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Susquehanna cut their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Tuesday, November 26th. Finally, UBS Group increased their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Stock Up 3.1 %

Shares of L3Harris Technologies stock opened at $220.47 on Friday. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a market cap of $41.52 billion, a P/E ratio of 28.01, 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. The stock has a 50-day moving average price of $208.94 and a 200 day moving average price of $227.66.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.20 per share. The ex-dividend date is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.18%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Insider Activity

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 transaction of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 4,901 shares of company stock worth $1,059,757 in the last ninety days. Corporate insiders own 0.87% of the company’s stock.

About L3Harris Technologies

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.