Islay Capital Management LLC Has $163,000 Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Islay Capital Management LLC lessened its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 56.4% during the 4th quarter, HoldingsChannel reports. The fund owned 773 shares of the company’s stock after selling 1,001 shares during the quarter. Islay Capital Management LLC’s holdings in L3Harris Technologies were worth $163,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in LHX. Exchange Traded Concepts LLC lifted its stake in L3Harris Technologies by 8.4% in the third quarter. Exchange Traded Concepts LLC now owns 3,228 shares of the company’s stock valued at $562,000 after buying an additional 251 shares during the period. Valeo Financial Advisors LLC lifted its stake in L3Harris Technologies by 14.1% in the third quarter. Valeo Financial Advisors LLC now owns 2,101 shares of the company’s stock valued at $366,000 after buying an additional 260 shares during the period. YHB Investment Advisors Inc. raised its position in shares of L3Harris Technologies by 1.5% during the third quarter. YHB Investment Advisors Inc. now owns 12,019 shares of the company’s stock worth $2,093,000 after purchasing an additional 173 shares during the period. Deltec Asset Management LLC raised its position in shares of L3Harris Technologies by 103.3% during the third quarter. Deltec Asset Management LLC now owns 9,840 shares of the company’s stock worth $1,713,000 after purchasing an additional 5,000 shares during the period. Finally, Accurate Wealth Management LLC raised its position in shares of L3Harris Technologies by 2.7% during the third quarter. Accurate Wealth Management LLC now owns 3,282 shares of the company’s stock worth $585,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LHX. Barclays raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a report on Monday, April 22nd. Raymond James increased their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Citigroup raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, Royal Bank of Canada raised their price target on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $230.88.

L3Harris Technologies Stock Performance

NYSE:LHX traded down $1.79 during mid-day trading on Tuesday, hitting $215.27. 450,141 shares of the stock were exchanged, compared to its average volume of 1,120,208. The stock has a market capitalization of $40.92 billion, a price-to-earnings ratio of 34.95, a price-to-earnings-growth ratio of 1.99 and a beta of 0.65. The firm’s 50-day simple moving average is $210.26 and its 200 day simple moving average is $201.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $218.34.

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

L3Harris Technologies Announces Dividend

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

Insider Activity

In other news, insider Edward J. Zoiss sold 3,707 shares of L3Harris Technologies stock in a transaction 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 transaction, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction 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 sale, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,362 shares of company stock worth $10,261,360. Insiders own 0.87% of the company’s stock.

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.