L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Spring Capital Management LLC

Spring Capital Management LLC cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,148 shares of the company’s stock after selling 57 shares during the quarter. L3Harris Technologies makes up approximately 3.8% of Spring Capital Management LLC’s portfolio, making the stock its 11th biggest position. Spring Capital Management LLC’s holdings in L3Harris Technologies were worth $4,875,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LHX. Acadian Asset Management LLC lifted its stake in L3Harris Technologies by 283.0% in the first quarter. Acadian Asset Management LLC now owns 1,103 shares of the company’s stock valued at $272,000 after buying an additional 815 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of L3Harris Technologies during the first quarter worth approximately $8,013,000. Sei Investments Co. raised its stake in shares of L3Harris Technologies by 14.2% during the first quarter. Sei Investments Co. now owns 62,374 shares of the company’s stock worth $15,643,000 after purchasing an additional 7,773 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in L3Harris Technologies by 18.9% during the first quarter. Sequoia Financial Advisors LLC now owns 3,372 shares of the company’s stock worth $838,000 after acquiring an additional 537 shares during the period. Finally, Brighton Jones LLC grew its holdings in L3Harris Technologies by 16.7% during the first quarter. Brighton Jones LLC now owns 1,230 shares of the company’s stock worth $306,000 after acquiring an additional 176 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the transaction, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 over the last ninety days. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Up 0.6 %

LHX stock opened at $212.50 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $218.34. The firm’s 50-day simple moving average is $210.75 and its 200 day simple moving average is $195.98. The stock has a market cap of $40.40 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 1.96 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. The firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.27 EPS. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $1.16 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date was Thursday, March 7th. This represents a $4.64 annualized dividend and a dividend yield of 2.18%. L3Harris Technologies’s dividend payout ratio (DPR) is 72.05%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised L3Harris Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $184.00 to $240.00 in a report on Friday, December 15th. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target for the company in a research report on Thursday, January 11th. Raymond James upped their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Truist Financial boosted their price objective on shares of L3Harris Technologies from $224.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. Finally, StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $229.00.

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.