Focused Investors LLC Reduces Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Focused Investors LLC cut its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450,450 shares of the company’s stock after selling 3,900 shares during the quarter. L3Harris Technologies comprises 3.0% of Focused Investors LLC’s investment portfolio, making the stock its 18th biggest position. Focused Investors LLC’s holdings in L3Harris Technologies were worth $94,721,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Quest Partners LLC boosted its holdings in shares of L3Harris Technologies by 36,000.0% during the third quarter. Quest Partners LLC now owns 361 shares of the company’s stock worth $86,000 after purchasing an additional 360 shares during the period. Intech Investment Management LLC lifted its position in L3Harris Technologies by 19.2% during the third quarter. Intech Investment Management LLC now owns 16,491 shares of the company’s stock valued at $3,923,000 after purchasing an additional 2,657 shares during the period. Thompson Siegel & Walmsley LLC grew its stake in shares of L3Harris Technologies by 0.4% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 14,165 shares of the company’s stock valued at $3,369,000 after purchasing an additional 54 shares during the period. Eagle Asset Management Inc. raised its holdings in L3Harris Technologies by 37.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 10,183 shares of the company’s stock worth $2,654,000 after purchasing an additional 2,765 shares during the period. Finally, Raymond James Trust N.A. raised its position in shares of L3Harris Technologies by 14.7% during the 3rd quarter. Raymond James Trust N.A. now owns 19,712 shares of the company’s stock valued at $4,689,000 after purchasing an additional 2,530 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ross Niebergall sold 1,373 shares of the company’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 of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,098 shares of company stock worth $1,760,588 over the last ninety days. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $208.15 on Friday. The firm has a fifty day moving average of $209.80 and a two-hundred day moving average of $226.20. The firm has a market cap of $39.07 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $1.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a yield of 2.31%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Analyst Ratings Changes

LHX has been the subject of several research analyst reports. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Truist Financial lowered 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. Citigroup dropped their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Barclays lowered their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.