L3Harris Technologies Inc $LHX Shares Sold by Horrell Capital Management Inc.

Horrell Capital Management Inc. reduced its position in L3Harris Technologies Inc (NYSE:LHX) by 8.2% during the third quarter, Holdings Channel.com reports. The firm owned 25,182 shares of the company’s stock after selling 2,245 shares during the quarter. L3Harris Technologies accounts for approximately 3.2% of Horrell Capital Management Inc.’s holdings, making the stock its 10th biggest position. Horrell Capital Management Inc.’s holdings in L3Harris Technologies were worth $7,691,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Crestwood Advisors Group LLC increased its position in shares of L3Harris Technologies by 10.4% during the third quarter. Crestwood Advisors Group LLC now owns 2,484 shares of the company’s stock worth $759,000 after acquiring an additional 234 shares in the last quarter. Colrain Capital LLC raised its position in L3Harris Technologies by 41.4% in the 3rd quarter. Colrain Capital LLC now owns 19,800 shares of the company’s stock valued at $6,047,000 after buying an additional 5,800 shares during the last quarter. NEOS Investment Management LLC boosted its holdings in L3Harris Technologies by 46.1% during the 3rd quarter. NEOS Investment Management LLC now owns 24,397 shares of the company’s stock worth $7,451,000 after acquiring an additional 7,699 shares during the last quarter. Holistic Financial Partners bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth $217,000. Finally, Arvest Bank Trust Division bought a new position in shares of L3Harris Technologies during the third quarter valued at about $231,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on LHX. Wolfe Research reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, February 6th. TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a research note on Monday, January 5th. Royal Bank Of Canada raised their price objective on shares of L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Finally, Morgan Stanley increased their target price on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $328.57.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 4,840 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $338.85, for a total value of $1,640,034.00. Following the sale, the insider owned 5,916 shares of the company’s stock, valued at $2,004,636.60. This trade represents a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Trading Up 0.3%

NYSE:LHX opened at $346.52 on Wednesday. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $369.59. The stock’s fifty day moving average price is $324.34 and its two-hundred day moving average price is $298.08. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. The company has a market cap of $64.72 billion, a P/E ratio of 40.62, a P/E/G ratio of 2.49 and a beta of 0.64.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data 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 analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.47 EPS. As a group, analysts expect 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 $1.25 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s payout ratio is currently 56.27%.

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.