Condor Capital Management Sells 144 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Condor Capital Management cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,755 shares of the company’s stock after selling 144 shares during the period. Condor Capital Management’s holdings in L3Harris Technologies were worth $2,472,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in L3Harris Technologies by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after acquiring an additional 59,008 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $398,507,000. Massachusetts Financial Services Co. MA raised its stake in shares of L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after purchasing an additional 85,882 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of L3Harris Technologies by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock worth $254,461,000 after purchasing an additional 32,979 shares during the period. Finally, Boston Partners raised its stake in L3Harris Technologies by 20.2% in the 4th quarter. Boston Partners now owns 1,178,741 shares of the company’s stock valued at $247,893,000 after acquiring an additional 198,243 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,098 shares of company stock worth $1,760,588. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE LHX opened at $213.07 on Thursday. The stock has a market capitalization of $40.00 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $209.74 and a 200 day moving average of $226.58.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $1.20 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.25%. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Analysts Set New Price Targets

A number of research firms have weighed in on LHX. Truist Financial reduced their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. UBS Group boosted their target price on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Company 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.