Marco Investment Management LLC Sells 260 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Marco Investment Management LLC lessened its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,612 shares of the company’s stock after selling 260 shares during the quarter. Marco Investment Management LLC’s holdings in L3Harris Technologies were worth $4,973,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Morgan Stanley grew its stake in shares of L3Harris Technologies by 1.9% during the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock worth $436,684,000 after buying an additional 47,691 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of L3Harris Technologies by 4.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock worth $430,049,000 after buying an additional 82,423 shares during the last quarter. Northern Trust Corp grew its stake in shares of L3Harris Technologies by 4.6% during the third quarter. Northern Trust Corp now owns 1,570,639 shares of the company’s stock worth $273,480,000 after buying an additional 68,545 shares during the last quarter. Invesco Ltd. grew its stake in shares of L3Harris Technologies by 15.3% during the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock worth $254,187,000 after buying an additional 193,690 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of L3Harris Technologies by 22.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after buying an additional 266,468 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other news, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies 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 transaction, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director William H. Swanson bought 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,362 shares of company stock valued at $10,261,360. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of 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. Citigroup boosted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Raymond James boosted their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada boosted their price objective on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $229.60.

L3Harris Technologies Stock Up 3.5 %

Shares of NYSE LHX traded up $7.18 during trading on Friday, hitting $214.54. 2,133,539 shares of the company traded hands, compared to its average volume of 1,010,338. The business’s fifty day moving average is $210.16 and its 200 day moving average is $201.62. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $218.34. The firm has a market capitalization of $40.79 billion, a price-to-earnings ratio of 34.83, a P/E/G ratio of 1.99 and a beta of 0.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same quarter in the prior year, the business earned $2.86 earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities research analysts predict that L3Harris Technologies, Inc. will post 12.76 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s payout ratio is presently 75.32%.

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.