Tocqueville Asset Management L.P. Lowers Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Tocqueville Asset Management L.P. cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 40.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,315 shares of the company’s stock after selling 14,553 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in L3Harris Technologies were worth $4,482,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. TrinityPoint Wealth LLC raised its holdings in L3Harris Technologies by 6.1% during the third quarter. TrinityPoint Wealth LLC now owns 3,126 shares of the company’s stock worth $744,000 after purchasing an additional 181 shares in the last quarter. MAI Capital Management lifted its holdings in shares of L3Harris Technologies by 6.4% in the 3rd quarter. MAI Capital Management now owns 28,785 shares of the company’s stock valued at $6,847,000 after buying an additional 1,732 shares during the period. Quest Partners LLC boosted its stake in shares of L3Harris Technologies by 36,000.0% in the third quarter. Quest Partners LLC now owns 361 shares of the company’s stock valued at $86,000 after buying an additional 360 shares in the last quarter. Pathstone Holdings LLC grew its holdings in L3Harris Technologies by 3.3% during the third quarter. Pathstone Holdings LLC now owns 57,912 shares of the company’s stock worth $13,775,000 after acquiring an additional 1,844 shares during the period. Finally, Prospera Financial Services Inc raised its position in L3Harris Technologies by 13.7% in the third quarter. Prospera Financial Services Inc now owns 43,115 shares of the company’s stock worth $10,257,000 after acquiring an additional 5,185 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. 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 research note on Friday, January 31st. Morgan Stanley dropped their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. UBS Group boosted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. dropped their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Stock Performance

Shares of LHX opened at $212.46 on Wednesday. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company’s 50 day simple moving average is $209.62 and its 200 day simple moving average is $226.67. The company has a market capitalization of $39.88 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last issued its quarterly 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%. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.26%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 60.99%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies 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 transaction, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ross Niebergall sold 1,373 shares of the company’s 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 sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. The trade was a 21.38 % 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 90 days. 0.82% of the stock is owned by company insiders.

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.