Shapiro Capital Management LLC Has $88.95 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Shapiro Capital Management LLC cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 16.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 423,002 shares of the company’s stock after selling 80,377 shares during the quarter. L3Harris Technologies makes up 3.0% of Shapiro Capital Management LLC’s portfolio, making the stock its 15th biggest position. Shapiro Capital Management LLC’s holdings in L3Harris Technologies were worth $88,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in LHX. Sherbrooke Park Advisers LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $375,000. Rafferty Asset Management LLC raised its position in shares of L3Harris Technologies by 12.7% in the 4th quarter. Rafferty Asset Management LLC now owns 45,002 shares of the company’s stock valued at $9,463,000 after acquiring an additional 5,079 shares during the period. Raiffeisen Bank International AG acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $58,000. Point72 Asset Management L.P. raised its position in shares of L3Harris Technologies by 1.2% in the 4th quarter. Point72 Asset Management L.P. now owns 282,188 shares of the company’s stock valued at $59,339,000 after acquiring an additional 3,240 shares during the period. Finally, Point72 Hong Kong Ltd raised its position in shares of L3Harris Technologies by 2,666.4% in the 4th quarter. Point72 Hong Kong Ltd now owns 56,821 shares of the company’s stock valued at $11,948,000 after acquiring an additional 54,767 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

NYSE:LHX opened at $227.07 on Friday. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year 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 firm has a fifty day simple moving average of $214.33 and a 200 day simple moving average of $219.63. The stock has a market capitalization of $42.45 billion, a PE ratio of 28.85, a P/E/G ratio of 2.42 and a beta of 0.72.

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

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.11%. L3Harris Technologies’s dividend payout ratio is presently 56.94%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction 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 completion of the transaction, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. The trade was a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction 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 transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on LHX shares. Wells Fargo & Company cut their price target 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. Bank of America dropped their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada restated a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and raised their target price for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Finally, Morgan Stanley dropped their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.