Atria Investments Inc Decreases Position in L3Harris Technologies, Inc. (NYSE:LHX)

Atria Investments Inc trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,278 shares of the company’s stock after selling 796 shares during the quarter. Atria Investments Inc’s holdings in L3Harris Technologies were worth $1,951,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LHX. National Pension Service raised its holdings in shares of L3Harris Technologies by 42.1% in the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock worth $127,440,000 after acquiring an additional 179,539 shares during the last quarter. JPMorgan Chase & Co. raised its holdings 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 acquiring an additional 178,407 shares during the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after acquiring an additional 166,262 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of L3Harris Technologies by 132.4% in the fourth quarter. Victory Capital Management Inc. now owns 280,540 shares of the company’s stock worth $58,992,000 after acquiring an additional 159,806 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter worth $25,071,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Morgan Stanley dropped their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company dropped their target price on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research note on Friday. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Finally, Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the transaction, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 4,901 shares of company stock valued at $1,059,757 over the last quarter. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $220.47 on Monday. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The business has a 50-day moving average of $208.94 and a 200-day moving average of $227.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company has a market capitalization of $41.52 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 2.42 and a beta of 0.74.

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 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, equities analysts anticipate 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. Stockholders of record on Monday, March 10th will be given a $1.20 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.18%. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

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.