Bridges Investment Management Inc. Lowers Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Bridges Investment Management Inc. lessened its stake in L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 86.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,253 shares of the company’s stock after selling 7,768 shares during the quarter. Bridges Investment Management Inc.’s holdings in L3Harris Technologies were worth $264,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of LHX. Norges Bank purchased a new position in shares of L3Harris Technologies in the fourth quarter worth $342,413,000. Cowa LLC purchased a new position in shares of L3Harris Technologies in the first quarter worth $26,000. Renaissance Technologies LLC lifted its holdings in shares of L3Harris Technologies by 284.1% in the first quarter. Renaissance Technologies LLC now owns 766,870 shares of the company’s stock worth $150,491,000 after buying an additional 567,200 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of L3Harris Technologies in the first quarter worth $83,532,000. Finally, Manning & Napier Group LLC increased its position in L3Harris Technologies by 58.6% in the third quarter. Manning & Napier Group LLC now owns 1,034,176 shares of the company’s stock worth $180,071,000 after purchasing an additional 381,997 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, Director William H. Swanson purchased 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the transaction, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction dated 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 in the company, valued at $6,057,346.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William H. Swanson acquired 1,250 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the acquisition, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is currently owned by insiders.

L3Harris Technologies Stock Down 0.1 %

NYSE:LHX traded down $0.20 during mid-day trading on Wednesday, reaching $205.00. The company’s stock had a trading volume of 154,684 shares, compared to its average volume of 1,117,896. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $218.34. The stock has a fifty day moving average of $211.24 and a 200-day moving average of $197.40. The firm has a market capitalization of $38.97 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 1.94 and a beta of 0.65. 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 (NYSE:LHXGet Free Report) last released its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the firm earned $3.27 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities research analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.26%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date was Thursday, March 7th. L3Harris Technologies’s dividend payout ratio is presently 72.05%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LHX. Truist Financial boosted their price target on shares of L3Harris Technologies from $224.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target on the stock in a research report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $184.00 to $240.00 in a research report on Friday, December 15th. UBS Group boosted their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, Raymond James boosted their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $229.00.

Read Our Latest Stock Analysis on L3Harris Technologies

About L3Harris Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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