L3Harris Technologies Inc $LHX Shares Sold by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC lowered its holdings in L3Harris Technologies Inc (NYSE:LHX) by 66.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,049 shares of the company’s stock after selling 7,966 shares during the period. Richard Bernstein Advisors LLC’s holdings in L3Harris Technologies were worth $1,237,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LHX. Victory Capital Management Inc. raised its holdings in L3Harris Technologies by 1,053.9% during the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after purchasing an additional 1,079,474 shares during the last quarter. Boston Partners increased its stake in shares of L3Harris Technologies by 72.1% during the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after purchasing an additional 838,546 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of L3Harris Technologies by 8,284.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock worth $194,482,000 after purchasing an additional 766,075 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $211,703,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in L3Harris Technologies by 155.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,350 shares of the company’s stock valued at $155,107,000 after buying an additional 376,499 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

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

L3Harris Technologies Price Performance

LHX opened at $361.51 on Wednesday. L3Harris Technologies Inc has a 1 year low of $195.72 and a 1 year high of $379.23. The company’s 50 day simple moving average is $345.35 and its 200 day simple moving average is $307.31. The stock has a market capitalization of $67.52 billion, a PE ratio of 42.38, a P/E/G ratio of 2.68 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.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.76 by $0.10. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. L3Harris Technologies’s revenue for the quarter 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. As a group, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a $1.25 dividend. This is an increase 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 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio is 58.62%.

Wall Street Analyst Weigh In

LHX has been the subject of several recent research reports. UBS Group raised their price target on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Citigroup increased their price objective on L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Argus upgraded shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Finally, Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, L3Harris Technologies 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.