Birmingham Capital Management Co. Inc. AL Has $293,000 Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Birmingham Capital Management Co. Inc. AL decreased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,393 shares of the company’s stock after selling 100 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in L3Harris Technologies were worth $293,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LHX. Raymond James Financial Inc. acquired a new position in L3Harris Technologies during the 4th quarter worth $398,507,000. Invesco Ltd. lifted its holdings in L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock worth $469,992,000 after buying an additional 522,861 shares in the last quarter. Vanguard Group Inc. lifted its holdings in L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after buying an additional 401,168 shares in the last quarter. Deutsche Bank AG lifted its holdings in L3Harris Technologies by 64.2% during the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock worth $155,691,000 after buying an additional 289,514 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in L3Harris Technologies during the 4th quarter valued at about $53,011,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. This trade represents a 5.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction that occurred on 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 owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LHX shares. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. cut their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Truist Financial cut their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Bank of America cut their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and increased their price target for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $256.56.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $237.81 on Tuesday. The company has a market capitalization of $44.46 billion, a PE ratio of 30.22, a PEG ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock’s fifty day simple moving average is $217.48 and its 200 day simple moving average is $218.40.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.06 EPS. On average, research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 2.02%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 56.94%.

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.