Boston Trust Walden Corp Trims Stock Position in L3Harris Technologies Inc (NYSE:LHX)

Boston Trust Walden Corp cut its holdings in L3Harris Technologies Inc (NYSE:LHX) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,855 shares of the company’s stock after selling 274 shares during the quarter. Boston Trust Walden Corp’s holdings in L3Harris Technologies were worth $598,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in L3Harris Technologies during the 4th quarter valued at $398,507,000. Invesco Ltd. lifted its position in shares of L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock valued at $469,992,000 after acquiring an additional 522,861 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of L3Harris Technologies by 18,295.3% during the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock valued at $107,424,000 after acquiring an additional 510,438 shares during the last quarter. Vanguard Group Inc. increased its position 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 purchasing an additional 401,168 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in L3Harris Technologies by 64.2% in the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock valued at $155,691,000 after purchasing an additional 289,514 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Jefferies Financial Group reduced their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Truist Financial reduced their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Citigroup lifted their target price on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Finally, The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and increased their price target for the stock 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 issued a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.75.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider now directly owns 25,325 shares in the company, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the transaction, the chief executive officer now owns 145,572 shares of the company’s stock, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $249.56 on Friday. The company has a market cap of $46.66 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 1.98 and a beta of 0.74. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85. The stock’s 50-day moving average is $231.54 and its 200-day moving average is $218.63.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. L3Harris Technologies’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.06 earnings per share. Equities analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a dividend of $1.20 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.92%. L3Harris Technologies’s payout ratio is 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.