Martin Investment Management LLC Sells 5,238 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Martin Investment Management LLC cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 15.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,625 shares of the company’s stock after selling 5,238 shares during the period. L3Harris Technologies accounts for approximately 1.6% of Martin Investment Management LLC’s portfolio, making the stock its 26th biggest holding. Martin Investment Management LLC’s holdings in L3Harris Technologies were worth $5,809,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in LHX. Meeder Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after buying an additional 82 shares during the last quarter. Millstone Evans Group LLC bought a new position in L3Harris Technologies during the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies during the 4th quarter valued at $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies in the 4th quarter valued at $30,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies in the 4th quarter worth $33,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

LHX has been the subject of several research reports. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Morgan Stanley lowered their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Bank of America lowered their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Susquehanna lowered their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $260.69.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $209.71 on Wednesday. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The stock has a 50-day simple moving average of $208.90 and a 200 day simple moving average of $225.23. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $39.37 billion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS 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%. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $1.20 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.29%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.