Metis Global Partners LLC Cuts Position in L3Harris Technologies, Inc. (NYSE:LHX)

Metis Global Partners LLC decreased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,980 shares of the company’s stock after selling 100 shares during the quarter. Metis Global Partners LLC’s holdings in L3Harris Technologies were worth $2,313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strong Tower Advisory Services raised its stake in L3Harris Technologies by 0.9% during the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after purchasing an additional 49 shares in the last quarter. Blossom Wealth Management raised its position in shares of L3Harris Technologies by 2.1% during the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after buying an additional 51 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of L3Harris Technologies by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after acquiring an additional 58 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its position in L3Harris Technologies by 3.8% in the third quarter. Cassaday & Co Wealth Management LLC now owns 1,622 shares of the company’s stock worth $282,000 after acquiring an additional 59 shares in the last quarter. Finally, Twin Lakes Capital Management LLC increased its stake in L3Harris Technologies by 0.4% during the third quarter. Twin Lakes Capital Management LLC now owns 14,695 shares of the company’s stock worth $2,559,000 after acquiring an additional 60 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $215.28 on Tuesday. The firm has a 50 day moving average of $210.24 and a 200 day moving average of $203.13. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $40.83 billion, a price-to-earnings ratio of 34.86, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.86 earnings per share. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 12.91 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 annualized dividend and a yield of 2.16%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Royal Bank of Canada increased their price target on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research note on Monday, April 22nd. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Finally, Citigroup increased their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.33.

Insiders Place Their Bets

In other L3Harris Technologies news, 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 completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the sale, the insider now owns 28,644 shares in the company, valued at $6,057,346.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the 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 sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is currently owned by insiders.

L3Harris Technologies Company 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.