Malaga Cove Capital LLC Has $1.75 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Malaga Cove Capital LLC trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,311 shares of the company’s stock after selling 110 shares during the period. Malaga Cove Capital LLC’s holdings in L3Harris Technologies were worth $1,748,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of LHX. Vanguard Group Inc. grew its stake in L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after purchasing an additional 401,168 shares in the last quarter. Geode Capital Management LLC grew its stake in L3Harris Technologies by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock valued at $1,004,418,000 after purchasing an additional 53,787 shares in the last quarter. FMR LLC grew its stake in L3Harris Technologies by 11.5% in the fourth quarter. FMR LLC now owns 2,261,999 shares of the company’s stock valued at $475,653,000 after purchasing an additional 233,968 shares in the last quarter. Invesco Ltd. grew its stake in L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock valued at $469,992,000 after purchasing an additional 522,861 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in L3Harris Technologies in the fourth quarter valued at about $398,507,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

L3Harris Technologies Stock Down 0.2%

NYSE LHX opened at $218.44 on Wednesday. The business has a fifty day moving average price of $214.18 and a two-hundred day moving average price of $219.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. 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 (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion during 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%. L3Harris Technologies’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.06 EPS. Equities analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.20%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 56.94%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LHX. Morgan Stanley decreased their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. UBS Group upped their price target on L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Truist Financial decreased their target price on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Citigroup decreased 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. According to data from MarketBeat, the stock 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.