King Luther Capital Management Corp Sells 51,091 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

King Luther Capital Management Corp decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 14.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 301,755 shares of the company's stock after selling 51,091 shares during the quarter. King Luther Capital Management Corp owned about 0.16% of L3Harris Technologies worth $63,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC bought a new stake in L3Harris Technologies during the 4th quarter valued at $27,000. Archer Investment Corp raised its holdings in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after acquiring an additional 43 shares during the period. Roxbury Financial LLC bought a new stake in L3Harris Technologies during the 4th quarter valued at $30,000. Kennebec Savings Bank bought a new position in shares of L3Harris Technologies in the third quarter worth $36,000. Finally, Union Bancaire Privee UBP SA bought a new position in shares of L3Harris Technologies in the fourth quarter worth $33,000. Institutional investors own 84.76% of the company's stock.

Insider Activity

In other news, insider Edward J. Zoiss sold 1,783 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ross Niebergall sold 1,764 shares of the company'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 of the company's stock, valued at approximately $1,455,383.80. This trade represents a 20.57 % 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. Insiders own 0.82% of the company's stock.

Remove Ads

Analyst Ratings Changes

LHX has been the topic of several research analyst reports. Bank of America decreased 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. Raymond James cut shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Truist Financial cut their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating for the company in a research report on Friday, January 31st. UBS Group upped their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Finally, Barclays cut their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $261.40.

L3Harris Technologies Trading Up 0.1 %

NYSE LHX traded up $0.24 during trading on Friday, hitting $211.42. 960,650 shares of the company's stock traded hands, compared to its average volume of 930,719. The stock has a fifty day moving average of $209.23 and a two-hundred day moving average of $227.17. 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, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The firm has a market cap of $39.81 billion, a P/E ratio of 26.86, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data 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%. 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 disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.27%. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies's dividend payout ratio is 60.99%.

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.