AtonRa Partners Lowers Position in L3Harris Technologies, Inc. (NYSE:LHX)

AtonRa Partners lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 14.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,191 shares of the company’s stock after selling 209 shares during the period. AtonRa Partners’ holdings in L3Harris Technologies were worth $251,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in LHX. Adell Harriman & Carpenter Inc. increased its position in shares of L3Harris Technologies by 13.5% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 2,776 shares of the company’s stock valued at $585,000 after acquiring an additional 331 shares during the last quarter. Intrust Bank NA raised its stake in shares of L3Harris Technologies by 14.5% during the 4th quarter. Intrust Bank NA now owns 4,009 shares of the company’s stock worth $844,000 after purchasing an additional 507 shares during the period. Mitchell Mcleod Pugh & Williams Inc. purchased a new position in shares of L3Harris Technologies in the 4th quarter worth about $201,000. Blue Chip Partners LLC grew its position in L3Harris Technologies by 18.8% during the fourth quarter. Blue Chip Partners LLC now owns 757 shares of the company’s stock valued at $160,000 after buying an additional 120 shares during the period. Finally, Fiduciary Group LLC purchased a new stake in L3Harris Technologies during the fourth quarter worth about $227,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded down $2.63 during midday trading on Tuesday, hitting $214.43. 150,666 shares of the company’s stock were exchanged, compared to its average volume of 1,117,070. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average price is $210.26 and its two-hundred day moving average price is $201.92. The company has a market cap of $40.77 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 1.99 and a beta of 0.65. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $218.34.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.86 EPS. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 12.76 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director William H. Swanson purchased 1,250 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $215.35 per share, with a total value of $269,187.50. Following the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the sale, the senior vice president now owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The disclosure for this sale can be found here. In the last three months, insiders sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research analyst reports. Barclays boosted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Raymond James increased their price target on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, Citigroup upped their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $230.88.

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.