Crossvault Capital Management LLC reduced its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 10.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,814 shares of the company’s stock after selling 2,573 shares during the quarter. L3Harris Technologies comprises about 1.6% of Crossvault Capital Management LLC’s portfolio, making the stock its 25th biggest position. Crossvault Capital Management LLC’s holdings in L3Harris Technologies were worth $4,624,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LHX. Dividend Assets Capital LLC increased its position in shares of L3Harris Technologies by 0.9% during the first quarter. Dividend Assets Capital LLC now owns 65,032 shares of the company’s stock valued at $13,181,000 after acquiring an additional 586 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of L3Harris Technologies by 17.9% during the first quarter. Park Avenue Securities LLC now owns 8,565 shares of the company’s stock valued at $1,736,000 after acquiring an additional 1,303 shares during the last quarter. New England Investment & Retirement Group Inc. grew its holdings in L3Harris Technologies by 7.9% during the first quarter. New England Investment & Retirement Group Inc. now owns 1,476 shares of the company’s stock valued at $299,000 after purchasing an additional 108 shares during the period. WASHINGTON TRUST Co grew its holdings in L3Harris Technologies by 140.1% during the first quarter. WASHINGTON TRUST Co now owns 605 shares of the company’s stock valued at $122,000 after purchasing an additional 353 shares during the period. Finally, DAVENPORT & Co LLC grew its holdings in L3Harris Technologies by 2.8% during the first quarter. DAVENPORT & Co LLC now owns 328,126 shares of the company’s stock valued at $66,505,000 after purchasing an additional 8,939 shares during the period. 80.58% of the stock is owned by hedge funds and other institutional investors.

Shares of LHX stock traded up $1.11 on Tuesday, reaching $212.85. The company’s stock had a trading volume of 6,546 shares, compared to its average volume of 1,227,328. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.29. L3Harris Technologies, Inc. has a 12-month low of $158.09 and a 12-month high of $213.00. The company has a market capitalization of $43.75 billion, a P/E ratio of 35.06, a PEG ratio of 0.96 and a beta of 0.80. The stock’s 50 day simple moving average is $204.51 and its 200-day simple moving average is $189.69.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Friday, April 30th. The company reported $3.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.92 by $0.26. L3Harris Technologies had a return on equity of 11.29% and a net margin of 7.18%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter last year, the business posted $2.80 earnings per share. The firm’s revenue was down 1.3% compared to the same quarter last year. Research analysts expect that L3Harris Technologies, Inc. will post 11.55 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, May 28th. This represents a $4.08 dividend on an annualized basis and a yield of 1.92%. L3Harris Technologies’s payout ratio is 40.48%.

Several brokerages have weighed in on LHX. Cowen reissued a “buy” rating and set a $210.00 price objective on shares of L3Harris Technologies in a report on Friday, February 5th. Jefferies Financial Group increased their price objective on L3Harris Technologies from $235.00 to $250.00 and gave the company a “buy” rating in a report on Monday. Credit Suisse Group raised their price target on L3Harris Technologies from $200.00 to $223.00 and gave the stock an “outperform” rating in a report on Monday, April 19th. TheStreet lowered L3Harris Technologies from a “b” rating to a “c” rating in a report on Friday. Finally, Morgan Stanley raised their price target on L3Harris Technologies from $226.00 to $238.00 and gave the stock an “overweight” rating in a report on Monday. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $226.21.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.

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

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