Islay Capital Management LLC Sells 200 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Islay Capital Management LLC decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 25.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 573 shares of the company’s stock after selling 200 shares during the period. Islay Capital Management LLC’s holdings in L3Harris Technologies were worth $120,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in LHX. Public Sector Pension Investment Board boosted its holdings in L3Harris Technologies by 15.3% in the third quarter. Public Sector Pension Investment Board now owns 8,308 shares of the company’s stock worth $1,976,000 after acquiring an additional 1,100 shares in the last quarter. Hilltop Holdings Inc. bought a new position in L3Harris Technologies in the 3rd quarter worth about $329,000. Investment Management Corp of Ontario grew its position in L3Harris Technologies by 47.2% during the 3rd quarter. Investment Management Corp of Ontario now owns 6,241 shares of the company’s stock valued at $1,485,000 after purchasing an additional 2,000 shares during the last quarter. IHT Wealth Management LLC increased its stake in L3Harris Technologies by 4.3% during the 3rd quarter. IHT Wealth Management LLC now owns 3,355 shares of the company’s stock valued at $800,000 after purchasing an additional 137 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new position in L3Harris Technologies in the third quarter worth about $119,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 3.8 %

NYSE:LHX opened at $202.03 on Friday. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The business has a fifty day moving average price of $208.20 and a 200-day moving average price of $224.83. The firm has a market capitalization of $37.92 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

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 return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.38%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is currently 60.99%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Wells Fargo & Company lowered their price target on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. JPMorgan Chase & Co. reduced their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Morgan Stanley lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $260.69.

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.