L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Harbour Investment Management LLC

Harbour Investment Management LLC reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 13,334 shares of the company’s stock after selling 100 shares during the quarter. L3Harris Technologies comprises 1.2% of Harbour Investment Management LLC’s investment portfolio, making the stock its 26th biggest position. Harbour Investment Management LLC’s holdings in L3Harris Technologies were worth $2,804,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in LHX. Geode Capital Management LLC raised its position in L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after purchasing an additional 59,008 shares during the period. Raymond James Financial Inc. purchased a new stake in L3Harris Technologies in the fourth quarter valued at approximately $398,507,000. Massachusetts Financial Services Co. MA raised its position in L3Harris Technologies by 5.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after purchasing an additional 85,882 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of L3Harris Technologies by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock worth $254,461,000 after acquiring an additional 32,979 shares during the period. Finally, Mizuho Markets Americas LLC increased its position in shares of L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after acquiring an additional 166,262 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the sale, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,862 shares of company stock worth $2,155,054 over the last three months. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

LHX opened at $211.42 on Friday. The firm has a market cap of $39.69 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company’s 50-day moving average price is $209.26 and its 200 day moving average price is $227.04. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last posted its 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, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a $1.20 dividend. The ex-dividend date 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 dividend yield of 2.27%. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Citigroup cut their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft cut their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Truist Financial dropped their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Morgan Stanley cut their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

About L3Harris Technologies

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.