Vontobel Holding Ltd. Has $676,000 Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Vontobel Holding Ltd. cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,333 shares of the company’s stock after selling 123 shares during the quarter. Vontobel Holding Ltd.’s holdings in L3Harris Technologies were worth $676,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its stake in shares of L3Harris Technologies by 25.8% in the 4th quarter. Janus Henderson Group PLC now owns 8,301,442 shares of the company’s stock valued at $1,569,118,000 after purchasing an additional 1,704,250 shares during the last quarter. Wells Fargo & Company MN boosted its position in L3Harris Technologies by 5.7% during the fourth quarter. Wells Fargo & Company MN now owns 5,796,711 shares of the company’s stock valued at $1,095,695,000 after acquiring an additional 312,258 shares during the last quarter. Longview Partners Guernsey LTD acquired a new stake in L3Harris Technologies during the 4th quarter worth about $864,584,000. Norges Bank bought a new position in shares of L3Harris Technologies in the 4th quarter worth about $372,443,000. Finally, Morgan Stanley lifted its stake in shares of L3Harris Technologies by 25.2% in the 4th quarter. Morgan Stanley now owns 1,279,814 shares of the company’s stock valued at $241,912,000 after purchasing an additional 257,454 shares during the period. Hedge funds and other institutional investors own 79.76% of the company’s stock.

Shares of LHX opened at $219.58 on Friday. The company has a market cap of $45.01 billion, a price-to-earnings ratio of 34.10, a P/E/G ratio of 1.87 and a beta of 0.87. L3Harris Technologies, Inc. has a 52 week low of $158.09 and a 52 week high of $223.87. The business’s 50 day moving average is $213.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.78 and a quick ratio of 1.57.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Friday, April 30th. The company reported $3.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.26. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.62 billion. L3Harris Technologies had a return on equity of 12.01% and a net margin of 7.55%. L3Harris Technologies’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.80 earnings per share. On average, analysts expect that L3Harris Technologies, Inc. will post 13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, May 28th. This represents a $4.08 annualized dividend and a dividend yield of 1.86%. L3Harris Technologies’s dividend payout ratio is currently 35.17%.

In other L3Harris Technologies news, VP Todd A. Taylor sold 5,312 shares of the stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $220.70, for a total value of $1,172,358.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dana A. Mehnert sold 64,643 shares of L3Harris Technologies stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $219.14, for a total transaction of $14,165,867.02. Following the transaction, the insider now directly owns 69,689 shares in the company, valued at approximately $15,271,647.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,611 shares of company stock valued at $48,120,085. 1.40% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on LHX shares. Benchmark reiterated a “hold” rating on shares of L3Harris Technologies in a report on Monday, May 3rd. Jefferies Financial Group lifted their price objective on shares of L3Harris Technologies from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, May 3rd. TheStreet lowered shares of L3Harris Technologies from a “b” rating to a “c” rating in a research note on Friday, April 30th. Wells Fargo & Company began coverage on shares of L3Harris Technologies in a report on Tuesday, May 18th. They issued an “equal weight” rating and a $225.00 price target for the company. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $208.00 price objective on shares of L3Harris Technologies in a report on Wednesday, April 14th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $226.21.

L3Harris Technologies Profile

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modifications, and periodic depot maintenance services for ISR and airborne missions.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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