L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Foyston Gordon & Payne Inc

Foyston Gordon & Payne Inc trimmed its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 41.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,439 shares of the company’s stock after selling 10,370 shares during the quarter. Foyston Gordon & Payne Inc’s holdings in L3Harris Technologies were worth $3,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares during the last quarter. Diversified Trust Co grew its holdings in L3Harris Technologies by 65.2% in the 4th quarter. Diversified Trust Co now owns 1,802 shares of the company’s stock worth $379,000 after buying an additional 711 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in L3Harris Technologies by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,261 shares of the company’s stock valued at $8,676,000 after acquiring an additional 447 shares during the period. Harbor Capital Advisors Inc. raised its stake in L3Harris Technologies by 2.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 4,919 shares of the company’s stock valued at $1,034,000 after acquiring an additional 113 shares in the last quarter. Finally, Czech National Bank boosted its position in L3Harris Technologies by 6.4% during the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after acquiring an additional 2,480 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LHX has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Bank of America lowered their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Jefferies Financial Group lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and upped their price objective for the company from $198.00 to $263.00 in a report on Friday, April 11th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $256.56.

L3Harris Technologies Stock Up 0.3 %

LHX stock opened at $219.15 on Friday. The company’s 50 day simple moving average is $213.93 and its 200-day simple moving average is $220.37. 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 current ratio of 1.08 and a quick ratio of 0.90. The firm has a market capitalization of $40.97 billion, a P/E ratio of 27.85, a P/E/G ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates 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%. L3Harris Technologies’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.06 earnings per share. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 2.19%. L3Harris Technologies’s dividend payout ratio is presently 56.94%.

Insiders Place Their Bets

In related news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares of the company’s stock, 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. Insiders own 0.72% of the company’s stock.

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.