Brandywine Global Investment Management LLC Sells 4,198 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Brandywine Global Investment Management LLC trimmed its position in L3Harris Technologies, Inc. (NYSE:LHX) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,963 shares of the company’s stock after selling 4,198 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in L3Harris Technologies were worth $23,754,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LHX. Vanguard Group Inc. boosted its stake in L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after buying an additional 401,168 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after purchasing an additional 59,008 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at $398,507,000. Charles Schwab Investment Management Inc. increased its position in L3Harris Technologies by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock worth $254,461,000 after purchasing an additional 32,979 shares during the last quarter. Finally, Boston Partners lifted its position in L3Harris Technologies by 20.2% during the fourth quarter. Boston Partners now owns 1,178,741 shares of the company’s stock valued at $247,893,000 after purchasing an additional 198,243 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $207.46 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a market cap of $38.94 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The firm’s 50 day simple moving average is $209.34 and its 200-day simple moving average is $225.51. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.31%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LHX shares. Barclays dropped their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Citigroup lowered their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Wells Fargo & Company dropped their target price on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Morgan Stanley lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, UBS Group lifted their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

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.