Channing Capital Management LLC Has $6.02 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Channing Capital Management LLC decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 16.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,582 shares of the company’s stock after selling 5,440 shares during the quarter. Channing Capital Management LLC’s holdings in L3Harris Technologies were worth $6,020,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LHX. KB Financial Partners LLC increased its position in L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after buying an additional 82 shares during the last quarter. New England Capital Financial Advisors LLC bought a new stake in shares of L3Harris Technologies during the 3rd quarter worth about $35,000. Blue Trust Inc. increased its holdings in shares of 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 acquiring an additional 109 shares during the last quarter. Washington Trust Advisors Inc. raised its stake in shares of 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 acquiring an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in L3Harris Technologies in the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of NYSE LHX traded up $2.37 during trading hours on Monday, reaching $214.61. The stock had a trading volume of 560,255 shares, compared to its average volume of 1,114,742. The company has a market cap of $40.71 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 1.88 and a beta of 0.63. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The business’s fifty day moving average is $210.18 and its two-hundred day moving average is $202.87. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) 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 company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter in the prior year, the company posted $2.86 EPS. The business’s revenue was up 16.6% on a year-over-year basis. As a group, research analysts expect that L3Harris Technologies, Inc. will post 12.91 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $4.64 annualized dividend and a dividend yield of 2.16%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Analyst Ratings Changes

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their price target on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. Raymond James boosted their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a report on Monday, April 22nd. Finally, StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $231.33.

Insider Transactions at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the sale, the senior vice president now owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Swanson acquired 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 48,362 shares of company stock valued at $10,261,360. Corporate insiders own 0.87% of the company’s stock.

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.