AtonRa Partners Sells 209 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

AtonRa Partners decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 14.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LHX. KB Financial Partners LLC lifted its holdings in L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the last quarter. New England Capital Financial Advisors LLC bought a new stake in L3Harris Technologies during the 3rd quarter worth approximately $35,000. Blue Trust Inc. increased its holdings in L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after purchasing an additional 109 shares in the last quarter. Washington Trust Advisors Inc. raised its position in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after purchasing an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter worth $46,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director William H. Swanson acquired 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares in the company, valued at $332,285.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction 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 approximately $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now owns 1,543 shares in the company, valued at $332,285.05. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 48,362 shares of company stock worth $10,261,360. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday. UBS Group upped their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Citigroup upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research note on Monday, April 22nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $230.88.

L3Harris Technologies Trading Down 1.2 %

NYSE:LHX traded down $2.63 on Tuesday, reaching $214.43. The company’s stock had a trading volume of 150,666 shares, compared to its average volume of 1,117,070. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The business’s 50-day moving average price is $210.26 and its two-hundred day moving average price is $201.92. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34. The firm has a market cap of $40.77 billion, a PE ratio of 34.95, a PEG ratio of 1.99 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same quarter in the previous year, the firm posted $2.86 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 12.76 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

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

L3Harris Technologies Company 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.