Gamco Investors INC. ET AL Sells 3,372 Shares of L3Harris Technologies Inc $LHX

Gamco Investors INC. ET AL cut its stake in L3Harris Technologies Inc (NYSE:LHX) by 5.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,500 shares of the company’s stock after selling 3,372 shares during the period. Gamco Investors INC. ET AL’s holdings in L3Harris Technologies were worth $17,866,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Twin Lakes Capital Management LLC grew its stake in shares of L3Harris Technologies by 0.3% in the third quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock valued at $4,380,000 after buying an additional 38 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in L3Harris Technologies by 2.2% during the second quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after purchasing an additional 39 shares during the period. Patrick M Sweeney & Associates Inc. increased its holdings in shares of L3Harris Technologies by 3.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock valued at $280,000 after purchasing an additional 40 shares during the last quarter. Moment Partners LLC raised its position in shares of L3Harris Technologies by 1.6% in the third quarter. Moment Partners LLC now owns 2,501 shares of the company’s stock valued at $764,000 after purchasing an additional 40 shares during the period. Finally, Catalyst Financial Partners LLC raised its position in shares of L3Harris Technologies by 2.6% in the third quarter. Catalyst Financial Partners LLC now owns 1,602 shares of the company’s stock valued at $489,000 after purchasing an additional 40 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $365.83 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $68.33 billion, a price-to-earnings ratio of 42.89, a price-to-earnings-growth ratio of 2.64 and a beta of 0.63. L3Harris Technologies Inc has a twelve month low of $195.72 and a twelve month high of $379.23. The company has a 50-day simple moving average of $342.52 and a two-hundred day simple moving average of $305.83.

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

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a dividend of $1.25 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. L3Harris Technologies’s payout ratio is currently 56.27%.

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 751 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $278,110.32. Following the completion of the sale, the vice president directly owned 4,131 shares in the company, valued at $1,529,791.92. This represents a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samir Mehta sold 5,528 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,756 shares in the company, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, 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

Several analysts recently commented on the stock. Citigroup lifted their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. raised their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Argus upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Royal Bank Of Canada upped their target price on L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Finally, UBS Group increased their target price on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently 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.