L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP lessened its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 653,768 shares of the company’s stock after selling 831 shares during the quarter. Yacktman Asset Management LP owned 0.34% of L3Harris Technologies worth $137,697,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LHX. Vontobel Holding Ltd. increased its holdings in L3Harris Technologies by 15.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,285 shares of the company’s stock valued at $224,000 after purchasing an additional 171 shares during the last quarter. CWM LLC raised its holdings in shares of L3Harris Technologies by 8.2% in the 3rd quarter. CWM LLC now owns 5,406 shares of the company’s stock valued at $941,000 after buying an additional 408 shares during the period. Ritholtz Wealth Management acquired a new position in L3Harris Technologies during the 3rd quarter worth about $411,000. Arkadios Wealth Advisors boosted its holdings in L3Harris Technologies by 24.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,505 shares of the company’s stock valued at $262,000 after acquiring an additional 296 shares during the period. Finally, HB Wealth Management LLC grew its position in L3Harris Technologies by 19.2% in the 3rd quarter. HB Wealth Management LLC now owns 2,438 shares of the company’s stock valued at $425,000 after acquiring an additional 393 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $12,376,393.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the sale, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders have sold 48,362 shares of company stock valued at $10,261,360 in the last ninety days. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Up 4.2 %

Shares of NYSE LHX traded up $8.75 during mid-day trading on Friday, reaching $216.11. The company had a trading volume of 1,483,093 shares, compared to its average volume of 1,117,319. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34. The stock has a market cap of $41.08 billion, a P/E ratio of 33.02, a PEG ratio of 1.93 and a beta of 0.65. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The firm has a 50 day simple moving average of $210.11 and a two-hundred day simple moving average of $201.04.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.86 earnings per share. Sell-side analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s payout ratio is currently 72.05%.

Wall Street Analysts Forecast Growth

LHX has been the topic of several research reports. Raymond James increased 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. UBS Group boosted their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective on the stock in a research note on Thursday, January 11th. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research note on Monday. Finally, StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $229.60.

About L3Harris Technologies

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.