Dividend Assets Capital LLC Sells 3,738 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Dividend Assets Capital LLC decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 8.8% during the first quarter, HoldingsChannel reports. The firm owned 38,900 shares of the company’s stock after selling 3,738 shares during the quarter. L3Harris Technologies comprises approximately 1.5% of Dividend Assets Capital LLC’s holdings, making the stock its 24th biggest position. Dividend Assets Capital LLC’s holdings in L3Harris Technologies were worth $8,142,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Accurate Wealth Management LLC raised its position in shares of L3Harris Technologies by 3.8% in the first quarter. Accurate Wealth Management LLC now owns 4,335 shares of the company’s stock valued at $962,000 after purchasing an additional 160 shares during the period. Yousif Capital Management LLC raised its position in shares of L3Harris Technologies by 2.5% in the first quarter. Yousif Capital Management LLC now owns 25,697 shares of the company’s stock valued at $5,379,000 after purchasing an additional 634 shares during the period. Olstein Capital Management L.P. raised its position in shares of L3Harris Technologies by 30.4% in the first quarter. Olstein Capital Management L.P. now owns 36,500 shares of the company’s stock valued at $7,640,000 after purchasing an additional 8,500 shares during the period. Farther Finance Advisors LLC raised its position in shares of L3Harris Technologies by 21.3% in the first quarter. Farther Finance Advisors LLC now owns 1,672 shares of the company’s stock valued at $351,000 after purchasing an additional 294 shares during the period. Finally, Rheos Capital Works Inc. raised its position in shares of L3Harris Technologies by 80.4% in the first quarter. Rheos Capital Works Inc. now owns 67,300 shares of the company’s stock valued at $14,087,000 after purchasing an additional 30,000 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LHX shares. Truist Financial dropped their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Citigroup lifted their price target on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a “buy” rating in a research report on Monday. Jefferies Financial Group dropped their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $258.75.

L3Harris Technologies Trading Up 0.6%

Shares of L3Harris Technologies stock opened at $245.67 on Tuesday. The firm has a market capitalization of $45.93 billion, a PE ratio of 31.22, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. 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’s fifty day moving average price is $224.21 and its two-hundred day moving average price is $217.92. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.06 EPS. On average, analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the sale, the insider now owns 25,325 shares of the company’s stock, valued at $6,204,625. The trade was a 7.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

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.