UBS Group AG Has $50.40 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

UBS Group AG lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 23.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 239,280 shares of the company’s stock after selling 74,197 shares during the period. UBS Group AG owned 0.13% of L3Harris Technologies worth $50,397,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Morgan Stanley raised its holdings in shares of L3Harris Technologies by 1.9% during the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock valued at $436,684,000 after purchasing an additional 47,691 shares during the period. Mizuho Markets Americas LLC raised its holdings in shares of L3Harris Technologies by 990.3% during the fourth quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock valued at $464,349,000 after purchasing an additional 2,002,475 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of L3Harris Technologies by 4.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock worth $430,049,000 after acquiring an additional 82,423 shares in the last quarter. Northern Trust Corp increased its position in shares of L3Harris Technologies by 4.6% during the third quarter. Northern Trust Corp now owns 1,570,639 shares of the company’s stock worth $273,480,000 after acquiring an additional 68,545 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of L3Harris Technologies during the fourth quarter worth about $325,147,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Raymond James boosted their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Royal Bank of Canada boosted their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Wells Fargo & Company boosted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.80.

Read Our Latest Report on L3Harris Technologies

L3Harris Technologies Stock Up 0.1 %

NYSE:LHX traded up $0.14 on Friday, reaching $223.25. 426,847 shares of the stock traded hands, compared to its average volume of 890,691. The company has a market capitalization of $42.35 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 1.87 and a beta of 0.63. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $225.90. The company’s fifty day simple moving average is $212.47 and its 200 day simple moving average is $207.05.

L3Harris Technologies (NYSE:LHXGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same period in the previous year, the business posted $2.86 earnings per share. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities analysts predict that L3Harris Technologies, Inc. will post 12.92 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the transaction, the chief executive officer now owns 120,326 shares in the company, valued at $27,086,585.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,086,585.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the sale, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,362 shares of company stock valued at $15,889,110. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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