Moors & Cabot Inc. Reduces Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Moors & Cabot Inc. decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,181 shares of the company’s stock after selling 197 shares during the quarter. Moors & Cabot Inc.’s holdings in L3Harris Technologies were worth $4,033,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of L3Harris Technologies during the fourth quarter worth about $398,507,000. National Pension Service raised its position in shares of L3Harris Technologies by 42.1% during the 4th quarter. National Pension Service now owns 606,047 shares of the company’s stock worth $127,440,000 after purchasing an additional 179,539 shares during the last quarter. JPMorgan Chase & Co. grew its stake in L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after acquiring an additional 178,407 shares during the period. Mizuho Markets Americas LLC grew its stake in L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after acquiring an additional 166,262 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of L3Harris Technologies by 132.4% during the 4th quarter. Victory Capital Management Inc. now owns 280,540 shares of the company’s stock valued at $58,992,000 after buying an additional 159,806 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the transaction, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. The trade was a 20.57 % 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 the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,862 shares of company stock valued at $2,155,054. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Down 2.4 %

L3Harris Technologies stock opened at $212.58 on Wednesday. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company’s 50-day moving average price is $209.17 and its two-hundred day moving average price is $227.41. The stock has a market cap of $40.03 billion, a P/E ratio of 27.01, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

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 analysts’ consensus estimates 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, 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 21st. Investors of record on Monday, March 10th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Tuesday, November 26th. Truist Financial lowered their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. UBS Group lifted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Barclays reduced their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Company 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.