L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 34.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,991 shares of the company’s stock after selling 13,305 shares during the quarter. Ensign Peak Advisors Inc’s holdings in L3Harris Technologies were worth $5,255,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of LHX. Ethic Inc. raised its position in L3Harris Technologies by 208.8% in the fourth quarter. Ethic Inc. now owns 10,334 shares of the company’s stock worth $2,173,000 after acquiring an additional 6,987 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in L3Harris Technologies by 21.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company’s stock valued at $1,488,000 after acquiring an additional 1,236 shares in the last quarter. Deutsche Bank AG grew its stake in L3Harris Technologies by 64.2% during the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock valued at $155,691,000 after acquiring an additional 289,514 shares in the last quarter. Concentric Capital Strategies LP grew its stake in shares of L3Harris Technologies by 38.9% in the 4th quarter. Concentric Capital Strategies LP now owns 75,201 shares of the company’s stock valued at $15,813,000 after buying an additional 21,077 shares in the last quarter. Finally, Cornerstone Select Advisors LLC bought a new stake in L3Harris Technologies during the fourth quarter worth approximately $1,095,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $218.44 on Wednesday. The stock’s fifty day moving average is $214.18 and its 200-day moving average is $219.78. The stock has a market capitalization of $40.84 billion, a PE ratio of 27.76, a PEG ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

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

L3Harris Technologies Announces Dividend

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 paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies’s payout ratio is 56.94%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LHX shares. Bank of America decreased their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. cut their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Wells Fargo & Company cut their target price on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. UBS Group upped their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Finally, Citigroup cut their target price on L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $256.56.

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.