Nicollet Investment Management Inc. Decreases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Nicollet Investment Management Inc. reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 0.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,612 shares of the company’s stock after selling 63 shares during the period. Nicollet Investment Management Inc.’s holdings in L3Harris Technologies were worth $1,390,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC increased its stake in L3Harris Technologies by 5.5% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock worth $200,000 after acquiring an additional 50 shares during the last quarter. Premier Path Wealth Partners LLC boosted its holdings in shares of L3Harris Technologies by 3.4% in the 4th quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock worth $328,000 after purchasing an additional 51 shares during the period. U.S. Capital Wealth Advisors LLC increased its position in shares of L3Harris Technologies by 2.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock valued at $514,000 after purchasing an additional 53 shares during the last quarter. Klingman & Associates LLC raised its holdings in L3Harris Technologies by 2.8% during the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock valued at $406,000 after buying an additional 53 shares during the period. Finally, Zullo Investment Group Inc. lifted its position in L3Harris Technologies by 3.2% in the fourth quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company’s stock worth $361,000 after buying an additional 54 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LHX shares. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. UBS Group raised their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft cut their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Barclays decreased their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $260.69.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies 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 completion of the sale, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Trading Up 0.8 %

LHX opened at $209.35 on Tuesday. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock has a fifty day moving average price of $209.16 and a 200-day moving average price of $225.37. The firm has a market cap of $39.30 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 2.42 and a beta of 0.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS 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, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $1.20 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.29%. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s payout ratio is currently 60.99%.

L3Harris Technologies 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.