Foresight Global Investors Inc. Trims Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Foresight Global Investors Inc. decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,694 shares of the company’s stock after selling 813 shares during the period. L3Harris Technologies accounts for approximately 0.8% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 15th largest position. Foresight Global Investors Inc.’s holdings in L3Harris Technologies were worth $1,410,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cross Staff Investments Inc lifted its stake in shares of L3Harris Technologies by 12.4% in the 4th quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock valued at $302,000 after purchasing an additional 158 shares during the last quarter. Sapient Capital LLC purchased a new position in L3Harris Technologies during the fourth quarter worth about $1,198,000. Bruce G. Allen Investments LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter valued at about $46,000. BKM Wealth Management LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $1,125,000. Finally, South Dakota Investment Council boosted its position in shares of L3Harris Technologies by 43.2% during the 3rd quarter. South Dakota Investment Council now owns 39,368 shares of the company’s stock worth $6,855,000 after purchasing an additional 11,879 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on LHX. Wells Fargo & Company raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday. UBS Group increased their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Royal Bank of Canada lifted their price objective on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, April 29th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Finally, Barclays upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $231.80.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded up $3.74 on Thursday, hitting $219.55. The stock had a trading volume of 825,370 shares, compared to its average volume of 1,111,450. The stock has a market cap of $41.64 billion, a price-to-earnings ratio of 35.63, a P/E/G ratio of 1.88 and a beta of 0.63. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $219.88. The company’s 50 day moving average price is $210.38 and its 200 day moving average price is $203.50.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 12.82% and a net margin of 5.82%. The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.86 earnings per share. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 12.91 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.11%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Activity

In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the transaction, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director William H. Swanson bought 1,250 shares of L3Harris Technologies stock in a transaction on 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 purchase, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the sale, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is currently owned by corporate 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.