Inceptionr LLC Lowers Stock Holdings in L3Harris Technologies Inc $LHX

Inceptionr LLC cut its position in L3Harris Technologies Inc (NYSE:LHX) by 81.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,143 shares of the company’s stock after selling 5,167 shares during the quarter. Inceptionr LLC’s holdings in L3Harris Technologies were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in L3Harris Technologies by 1,053.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock valued at $360,964,000 after acquiring an additional 1,079,474 shares during the period. Boston Partners increased its stake in L3Harris Technologies by 72.1% during the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after purchasing an additional 838,546 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of L3Harris Technologies by 8,284.6% during the second quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock worth $194,482,000 after purchasing an additional 766,075 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of L3Harris Technologies in the third quarter valued at approximately $211,703,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of L3Harris Technologies by 155.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,350 shares of the company’s stock valued at $155,107,000 after purchasing an additional 376,499 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.8%

Shares of NYSE:LHX opened at $364.47 on Thursday. L3Harris Technologies Inc has a fifty-two week low of $195.72 and a fifty-two week high of $379.23. The firm’s 50 day moving average price is $346.76 and its 200 day moving average price is $307.71. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The stock has a market cap of $68.07 billion, a price-to-earnings ratio of 42.73, a price-to-earnings-growth ratio of 2.61 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the previous year, the business posted $3.47 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $1.25 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio is presently 58.62%.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 5,528 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the transaction, the insider owned 7,660 shares of the company’s stock, valued at $2,836,651.20. This represents a 41.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Melanie Rakita sold 2,378 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $341.45, for a total value of $811,968.10. Following the completion of the sale, the vice president owned 4,882 shares in the company, valued at approximately $1,666,958.90. This represents a 32.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 19,025 shares of company stock worth $6,824,370. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LHX. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. BNP Paribas Exane raised shares of L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Wall Street Zen downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, January 30th. Finally, Vertical Research reiterated a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.