Marco Investment Management LLC Reduces Position in L3Harris Technologies, Inc. (NYSE:LHX)

Marco Investment Management LLC cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,082 shares of the company’s stock after selling 295 shares during the quarter. Marco Investment Management LLC’s holdings in L3Harris Technologies were worth $5,064,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in LHX. Raymond James Financial Inc. purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at $398,507,000. National Pension Service lifted its position in L3Harris Technologies by 42.1% during the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock valued at $127,440,000 after purchasing an additional 179,539 shares during the period. JPMorgan Chase & Co. lifted its position in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after purchasing an additional 178,407 shares during the period. Mizuho Markets Americas LLC lifted its position in L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after purchasing an additional 166,262 shares during the period. Finally, Victory Capital Management Inc. lifted its position in L3Harris Technologies by 132.4% during the fourth quarter. Victory Capital Management Inc. now owns 280,540 shares of the company’s stock valued at $58,992,000 after purchasing an additional 159,806 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 4,901 shares of company stock valued at $1,059,757. Corporate insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on LHX. UBS Group boosted their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Truist Financial decreased their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.47.

L3Harris Technologies Stock Up 1.6 %

LHX stock opened at $213.82 on Friday. The stock has a market capitalization of $40.26 billion, a P/E ratio of 27.17, a P/E/G ratio of 2.42 and a beta of 0.74. The firm has a 50-day simple moving average of $208.78 and a 200-day simple moving average of $227.73. 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, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74.

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

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.24%. The ex-dividend date is Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend 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.