Kesler Norman & Wride LLC Reduces Position in L3Harris Technologies, Inc. (NYSE:LHX)

Kesler Norman & Wride LLC decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,188 shares of the company’s stock after selling 1,904 shares during the quarter. L3Harris Technologies comprises about 1.5% of Kesler Norman & Wride LLC’s portfolio, making the stock its 18th biggest holding. Kesler Norman & Wride LLC’s holdings in L3Harris Technologies were worth $6,569,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LHX. Norges Bank purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth $342,413,000. Cowa LLC purchased a new stake in shares of L3Harris Technologies during the first quarter worth $26,000. Renaissance Technologies LLC boosted its position in shares of L3Harris Technologies by 284.1% during the 1st quarter. Renaissance Technologies LLC now owns 766,870 shares of the company’s stock valued at $150,491,000 after acquiring an additional 567,200 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of L3Harris Technologies during the 1st quarter valued at about $83,532,000. Finally, Manning & Napier Group LLC boosted its position in shares of L3Harris Technologies by 58.6% during the 3rd quarter. Manning & Napier Group LLC now owns 1,034,176 shares of the company’s stock valued at $180,071,000 after acquiring an additional 381,997 shares during the last quarter. Hedge funds and other institutional investors own 81.33% of the company’s stock.

L3Harris Technologies Stock Down 0.9 %

Shares of LHX stock traded down $1.93 during trading hours on Monday, reaching $210.93. 1,438,372 shares of the stock were exchanged, compared to its average volume of 1,138,295. The business’s fifty day moving average is $209.93 and its two-hundred day moving average is $194.31. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $218.34. The firm has a market capitalization of $40.10 billion, a P/E ratio of 32.75, a P/E/G ratio of 1.98 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the firm earned $3.27 earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, research analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 8th will be paid a $1.16 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 2.20%. The ex-dividend date is Thursday, March 7th. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LHX shares. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Raymond James boosted their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target on the stock in a research report on Thursday, January 11th. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. Finally, Citigroup upped their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $229.00.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 28,644 shares in the company, valued at $6,057,346.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the transaction, the insider now owns 28,644 shares in the company, valued at $6,057,346.68. The disclosure for this sale can be found here. Insiders have sold 8,362 shares of company stock worth $1,772,560 over the last three months. Insiders own 0.82% of the company’s stock.

About L3Harris Technologies

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.