Martin Investment Management LLC Reduces Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Martin Investment Management LLC cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 15.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,625 shares of the company's stock after selling 5,238 shares during the period. L3Harris Technologies makes up 1.6% of Martin Investment Management LLC's holdings, making the stock its 26th biggest holding. Martin Investment Management LLC's holdings in L3Harris Technologies were worth $5,809,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock worth $4,895,534,000 after buying an additional 401,168 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of L3Harris Technologies by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock worth $1,004,418,000 after purchasing an additional 53,787 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at $398,507,000. Charles Schwab Investment Management Inc. boosted its stake in L3Harris Technologies by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company's stock worth $254,461,000 after buying an additional 32,979 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of L3Harris Technologies by 20.2% during the 4th quarter. Boston Partners now owns 1,178,741 shares of the company's stock valued at $247,893,000 after purchasing an additional 198,243 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

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Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares of the company's stock, valued at $632,122. This trade represents a 53.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded down $5.65 during mid-day trading on Monday, reaching $196.41. The company's stock had a trading volume of 892,551 shares, compared to its average volume of 1,331,005. The stock has a market capitalization of $36.87 billion, a P/E ratio of 24.96, a P/E/G ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The stock has a 50-day moving average of $208.20 and a two-hundred day moving average of $224.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

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

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $1.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.44%. L3Harris Technologies's dividend payout ratio (DPR) is 60.99%.

Analysts Set New Price Targets

LHX has been the topic of a number of analyst reports. Jefferies Financial Group decreased their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Raymond James cut L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. Barclays decreased 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 note on Monday, January 6th. UBS Group increased their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Finally, Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and cut their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $260.69.

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.