Capital International Ltd. CA Trims Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Capital International Ltd. CA lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,316 shares of the company’s stock after selling 2,427 shares during the quarter. Capital International Ltd. CA’s holdings in L3Harris Technologies were worth $3,221,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. raised its position in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. Millstone Evans Group LLC bought a new stake in L3Harris Technologies in the 4th quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies during the fourth quarter valued at approximately $27,000. Roxbury Financial LLC purchased a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $30,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of L3Harris Technologies in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.4 %

NYSE:LHX opened at $218.01 on Friday. The firm has a 50-day simple moving average of $208.87 and a two-hundred day simple moving average of $223.18. The firm has a market cap of $40.92 billion, a P/E ratio of 27.70, a P/E/G ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two 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 issued its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.20%. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. UBS Group increased their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Bank of America dropped their price target on shares of 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. dropped their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Morgan Stanley lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $256.35.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction 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 completion of the sale, the insider now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction on Monday, March 10th. The shares were 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 disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

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.