Goldman Sachs Group Inc. Sells 148,039 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Goldman Sachs Group Inc. decreased its position in L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 14.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 900,140 shares of the company’s stock after selling 148,039 shares during the quarter. Goldman Sachs Group Inc.’s holdings in L3Harris Technologies were worth $191,946,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pinnacle Private Wealth LLC bought a new stake in L3Harris Technologies in the 4th quarter worth approximately $351,000. Mcdonald Partners LLC increased its stake in L3Harris Technologies by 2.6% in the 3rd quarter. Mcdonald Partners LLC now owns 25,708 shares of the company’s stock worth $5,662,000 after acquiring an additional 650 shares during the last quarter. National Bank of Canada FI bought a new stake in L3Harris Technologies in the 4th quarter worth approximately $3,040,000. Whittier Trust Co. of Nevada Inc. increased its stake in L3Harris Technologies by 2.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,994 shares of the company’s stock worth $425,000 after acquiring an additional 47 shares during the last quarter. Finally, Clearstead Trust LLC increased its stake in L3Harris Technologies by 1.5% in the 4th quarter. Clearstead Trust LLC now owns 12,459 shares of the company’s stock worth $2,657,000 after acquiring an additional 184 shares during the last quarter. 80.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of LHX stock traded up $0.62 during mid-day trading on Friday, hitting $236.18. The stock had a trading volume of 1,046,910 shares, compared to its average volume of 1,078,407. L3Harris Technologies, Inc. has a 12-month low of $200.71 and a 12-month high of $279.71. The firm has a market capitalization of $45.55 billion, a P/E ratio of 25.40, a price-to-earnings-growth ratio of 4.00 and a beta of 0.76. The firm’s 50-day moving average is $249.21 and its two-hundred day moving average is $230.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.09.

L3Harris Technologies (NYSE:LHXGet Rating) last issued its earnings results on Thursday, April 28th. The company reported $3.12 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.06. L3Harris Technologies had a return on equity of 13.18% and a net margin of 10.68%. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the prior year, the business earned $3.18 EPS. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. Analysts expect that L3Harris Technologies, Inc. will post 13.58 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 17th. Investors of record on Friday, June 3rd will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, June 2nd. L3Harris Technologies’s dividend payout ratio (DPR) is currently 48.17%.

A number of analysts have issued reports on LHX shares. Morgan Stanley lifted their price objective on L3Harris Technologies from $230.00 to $276.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 2nd. Raymond James cut their target price on L3Harris Technologies from $250.00 to $243.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 2nd. Susquehanna cut their target price on L3Harris Technologies from $302.00 to $298.00 in a research report on Monday, May 2nd. Susquehanna Bancshares cut their target price on L3Harris Technologies from $302.00 to $298.00 in a research report on Monday, May 2nd. Finally, Wells Fargo & Company boosted their target price on L3Harris Technologies from $240.00 to $291.00 and gave the company an “overweight” rating in a research report on Monday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Buy” and a consensus target price of $265.09.

About L3Harris Technologies (Get Rating)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

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

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