Cyrus J. Lawrence LLC Has $6.88 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Cyrus J. Lawrence LLC lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 8.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 32,736 shares of the company’s stock after selling 2,886 shares during the period. Cyrus J. Lawrence LLC’s holdings in L3Harris Technologies were worth $6,883,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of L3Harris Technologies by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after buying an additional 59,008 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $398,507,000. Massachusetts Financial Services Co. MA lifted its position in shares of L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after buying an additional 85,882 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of L3Harris Technologies by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock worth $254,461,000 after buying an additional 32,979 shares in the last quarter. Finally, Boston Partners lifted its position in shares of L3Harris Technologies by 20.2% during the 4th quarter. Boston Partners now owns 1,178,741 shares of the company’s stock worth $247,893,000 after buying an additional 198,243 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In related news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction 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 transaction, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,098 shares of company stock worth $1,760,588 in the last three months. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LHX shares. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Truist Financial lowered their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $261.40.

L3Harris Technologies Trading Down 0.8 %

Shares of LHX stock opened at $208.15 on Friday. The company’s fifty day simple moving average is $209.80 and its two-hundred day simple moving average is $226.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The stock has a market capitalization of $39.07 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating 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 anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $1.20 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s payout ratio is 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.