Hunter Associates Investment Management LLC Cuts Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Hunter Associates Investment Management LLC trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,188 shares of the company’s stock after selling 99 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in L3Harris Technologies were worth $460,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp increased its holdings in L3Harris Technologies by 4.1% during the first quarter. State Street Corp now owns 8,691,190 shares of the company’s stock valued at $1,705,558,000 after buying an additional 339,806 shares during the period. Geode Capital Management LLC increased its holdings in L3Harris Technologies by 1.0% during the first quarter. Geode Capital Management LLC now owns 3,556,352 shares of the company’s stock valued at $696,145,000 after buying an additional 34,726 shares during the period. Morgan Stanley increased its holdings in L3Harris Technologies by 1.9% during the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock valued at $436,684,000 after buying an additional 47,691 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in L3Harris Technologies by 4.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock valued at $430,049,000 after acquiring an additional 82,423 shares in the last quarter. Finally, Norges Bank acquired a new stake in L3Harris Technologies in the fourth quarter valued at approximately $342,413,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other 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 completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William H. Swanson acquired 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $215.35 per share, with a total value of $269,187.50. Following the purchase, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 over the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. UBS Group raised their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Citigroup raised their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price for the company in a research note on Thursday, January 11th. Royal Bank of Canada lifted their price objective on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $229.00.

L3Harris Technologies Stock Performance

LHX traded up $3.37 on Friday, reaching $205.45. The stock had a trading volume of 898,618 shares, compared to its average volume of 996,133. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $218.34. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $210.30 and its two-hundred day moving average price is $199.84. The company has a market cap of $39.06 billion, a P/E ratio of 31.90, a price-to-earnings-growth ratio of 1.88 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. The company had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.27 earnings per share. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.26%. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

L3Harris Technologies 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.