Wedge Capital Management L L P NC Sells 8,255 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Wedge Capital Management L L P NC decreased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 14.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,242 shares of the company’s stock after selling 8,255 shares during the period. Wedge Capital Management L L P NC’s holdings in L3Harris Technologies were worth $10,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Morgan Stanley boosted its stake in shares of L3Harris Technologies by 1.9% in the 3rd quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock worth $436,684,000 after buying an additional 47,691 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of L3Harris Technologies by 4.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock worth $430,049,000 after buying an additional 82,423 shares during the last quarter. Northern Trust Corp lifted its position in L3Harris Technologies by 4.6% during the third quarter. Northern Trust Corp now owns 1,570,639 shares of the company’s stock valued at $273,480,000 after purchasing an additional 68,545 shares in the last quarter. Invesco Ltd. lifted its position in L3Harris Technologies by 15.3% during the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock valued at $254,187,000 after purchasing an additional 193,690 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in L3Harris Technologies by 22.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock valued at $252,481,000 after purchasing an additional 266,468 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.2 %

Shares of NYSE:LHX opened at $207.62 on Wednesday. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34. The stock has a market cap of $39.47 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 1.93 and a beta of 0.65. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $210.23 and a 200-day moving average price of $200.95.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the business posted $3.27 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LHX shares. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research report on Monday. Citigroup raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target on the stock in a report on Thursday, January 11th. Finally, Wells Fargo & Company decreased their price target on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $229.60.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 3,707 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the transaction, the insider now directly owns 28,644 shares in the company, valued at $6,057,346.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the sale, the insider now directly owns 28,644 shares in the company, valued at $6,057,346.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is owned by corporate insiders.

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.