L3Harris Technologies Inc $LHX Position Trimmed by Prudent Man Advisors LLC

Prudent Man Advisors LLC trimmed its stake in L3Harris Technologies Inc (NYSE:LHX) by 24.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,222 shares of the company’s stock after selling 1,398 shares during the quarter. Prudent Man Advisors LLC’s holdings in L3Harris Technologies were worth $1,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LHX. McGowan Group Asset Management Inc. acquired a new stake in shares of L3Harris Technologies during the 3rd quarter valued at $261,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of L3Harris Technologies by 975.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 46,209 shares of the company’s stock worth $14,113,000 after acquiring an additional 41,911 shares during the last quarter. Kendall Capital Management raised its holdings in shares of L3Harris Technologies by 5.4% during the third quarter. Kendall Capital Management now owns 1,550 shares of the company’s stock worth $473,000 after acquiring an additional 80 shares in the last quarter. Nemes Rush Group LLC raised its holdings in shares of L3Harris Technologies by 0.3% during the third quarter. Nemes Rush Group LLC now owns 31,893 shares of the company’s stock worth $9,740,000 after acquiring an additional 92 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in L3Harris Technologies by 2.0% during the third quarter. Mackenzie Financial Corp now owns 111,260 shares of the company’s stock valued at $33,980,000 after purchasing an additional 2,225 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 0.8%

L3Harris Technologies stock opened at $364.47 on Thursday. The firm has a market capitalization of $68.07 billion, a PE ratio of 42.73, a PEG ratio of 2.61 and a beta of 0.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The business’s 50-day simple moving average is $346.76 and its 200-day simple moving average is $307.71. L3Harris Technologies Inc has a 52 week low of $195.72 and a 52 week high of $379.23.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter last year, the business posted $3.47 earnings per share. L3Harris Technologies’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. L3Harris Technologies’s dividend payout ratio is currently 58.62%.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the transaction, the insider directly owned 7,660 shares of the company’s stock, valued at approximately $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Melanie Rakita sold 2,378 shares of L3Harris Technologies stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $341.45, for a total transaction of $811,968.10. Following the completion of the sale, the vice president owned 4,882 shares of the company’s stock, valued at $1,666,958.90. This trade represents a 32.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 19,025 shares of company stock worth $6,824,370. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on LHX shares. BNP Paribas Exane upgraded L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. Argus upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Vertical Research reiterated a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a research note on Tuesday, January 13th. Finally, UBS Group boosted their target price on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.