Clark Estates Inc. NY Decreases Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Clark Estates Inc. NY decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 27.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 42,575 shares of the company’s stock after selling 16,000 shares during the period. L3Harris Technologies accounts for 1.7% of Clark Estates Inc. NY’s holdings, making the stock its 15th largest position. Clark Estates Inc. NY’s holdings in L3Harris Technologies were worth $8,953,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. KCM Investment Advisors LLC grew its position in shares of L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after buying an additional 5,868 shares in the last quarter. Fortem Financial Group LLC acquired a new stake in shares of L3Harris Technologies in the third quarter valued at about $841,000. Czech National Bank grew its stake in L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after acquiring an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. increased its position in L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after purchasing an additional 4,321 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 0.1 %

LHX stock opened at $207.47 on Wednesday. The stock has a market capitalization of $39.07 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The company has a 50-day moving average of $208.82 and a two-hundred day moving average of $227.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s payout ratio is currently 58.96%.

Analysts Set New Price Targets

LHX has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Morgan Stanley lowered their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Barclays cut their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Wells Fargo & Company cut their price objective on L3Harris Technologies from $300.00 to $269.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.47.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 over the last 90 days. 0.82% of the stock is owned by insiders.

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.