Martin Investment Management LLC Sells 5,238 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Martin Investment Management LLC lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,625 shares of the company’s stock after selling 5,238 shares during the period. L3Harris Technologies comprises 1.6% of Martin Investment Management LLC’s holdings, making the stock its 26th largest position. Martin Investment Management LLC’s holdings in L3Harris Technologies were worth $5,809,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its holdings in shares of L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after acquiring an additional 82 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies in the fourth quarter valued at approximately $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $30,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. UBS Group increased their target price on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company cut their target price on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Morgan Stanley decreased their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Susquehanna cut their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial lowered their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $260.69.

L3Harris Technologies Stock Up 0.2 %

Shares of NYSE LHX opened at $209.71 on Wednesday. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a market cap of $39.37 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The company has a 50 day simple moving average of $208.90 and a 200 day simple moving average of $225.23.

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

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $1.20 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.29%. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

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.