Intact Investment Management Inc. Has $547,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Intact Investment Management Inc. lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 90.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,600 shares of the company’s stock after selling 25,020 shares during the period. Intact Investment Management Inc.’s holdings in L3Harris Technologies were worth $547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LHX. Wellington Shields Capital Management LLC grew its holdings in L3Harris Technologies by 4.0% during the 4th quarter. Wellington Shields Capital Management LLC now owns 10,155 shares of the company’s stock worth $2,135,000 after acquiring an additional 386 shares during the period. Atala Financial Inc acquired a new stake in L3Harris Technologies during the 4th quarter worth $376,000. Impact Capital Partners LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth $270,000. HBK Sorce Advisory LLC grew its holdings in L3Harris Technologies by 10.5% during the 4th quarter. HBK Sorce Advisory LLC now owns 2,326 shares of the company’s stock worth $489,000 after acquiring an additional 221 shares during the period. Finally, Bowen Hanes & Co. Inc. grew its holdings in L3Harris Technologies by 3.4% during the 4th quarter. Bowen Hanes & Co. Inc. now owns 15,155 shares of the company’s stock worth $3,187,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on LHX. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Truist Financial reduced 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 report on Friday, January 31st. Barclays reduced their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company reduced their price target 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. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

Insiders Place Their Bets

In other news, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the transaction, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,862 shares of company stock valued at $2,155,054 in the last three months. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Up 0.1 %

LHX opened at $211.42 on Friday. The firm’s fifty day simple moving average is $209.26 and its 200 day simple moving average is $227.02. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock has a market capitalization of $39.69 billion, a P/E ratio of 26.86, a P/E/G ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate 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, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal 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 given a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.27%. L3Harris Technologies’s payout ratio is 60.99%.

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.