Quarry LP Sells 659 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Quarry LP lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 29.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,609 shares of the company’s stock after selling 659 shares during the period. Quarry LP’s holdings in L3Harris Technologies were worth $338,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LHX. Measured Wealth Private Client Group LLC raised its stake in shares of L3Harris Technologies by 5.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock worth $200,000 after purchasing an additional 50 shares during the last quarter. Premier Path Wealth Partners LLC raised its position in L3Harris Technologies by 3.4% in the 4th quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock valued at $328,000 after buying an additional 51 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in L3Harris Technologies by 0.7% during the 4th quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company’s stock valued at $1,476,000 after acquiring an additional 52 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in L3Harris Technologies by 2.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock worth $514,000 after acquiring an additional 53 shares during the last quarter. Finally, Klingman & Associates LLC boosted its holdings in L3Harris Technologies by 2.8% during the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock worth $406,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity

In other news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated 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 directly owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were 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 in the company, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

LHX has been the topic of a number of analyst reports. 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 report on Wednesday, January 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Truist Financial cut their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a report on Friday. Finally, Barclays cut their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Five equities research 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, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $257.25.

L3Harris Technologies Price Performance

NYSE LHX opened at $216.37 on Monday. The company has a market cap of $40.62 billion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $210.58 and its two-hundred day simple moving average is $221.96.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, missing the consensus estimate of $2.55 by ($0.14). The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

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.