Vista Investment Management Lowers Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Vista Investment Management reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,134 shares of the company’s stock after selling 63 shares during the period. Vista Investment Management’s holdings in L3Harris Technologies were worth $239,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. lifted its stake in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after acquiring an additional 82 shares during the period. Millstone Evans Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after buying an additional 111 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Jefferies Financial Group lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. Citigroup decreased their price objective on L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Morgan Stanley cut their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Bank of America decreased their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company lowered their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $256.56.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. The trade was a 53.19% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 0.1%

NYSE:LHX opened at $230.80 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a market cap of $43.15 billion, a PE ratio of 29.33, a P/E/G ratio of 2.42 and a beta of 0.72. The company’s 50 day moving average is $215.52 and its two-hundred day moving average is $219.12.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.06 EPS. Analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is presently 56.94%.

L3Harris Technologies 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.