Flputnam Investment Management Co. Sells 7,269 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Flputnam Investment Management Co. lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 22.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 24,890 shares of the company’s stock after selling 7,269 shares during the period. Flputnam Investment Management Co.’s holdings in L3Harris Technologies were worth $5,242,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Strong Tower Advisory Services lifted its stake in shares of L3Harris Technologies by 0.9% in the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after acquiring an additional 49 shares during the period. State of Wyoming lifted its stake in shares of L3Harris Technologies by 27.1% in the fourth quarter. State of Wyoming now owns 230 shares of the company’s stock worth $48,000 after acquiring an additional 49 shares during the period. Blossom Wealth Management lifted its stake in shares of L3Harris Technologies by 2.1% in the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after acquiring an additional 51 shares during the period. Apollon Wealth Management LLC lifted its stake in L3Harris Technologies by 0.9% in the fourth quarter. Apollon Wealth Management LLC now owns 5,925 shares of the company’s stock valued at $1,234,000 after buying an additional 52 shares during the period. Finally, Advisory Services Network LLC raised its position in shares of L3Harris Technologies by 0.9% during the first quarter. Advisory Services Network LLC now owns 6,236 shares of the company’s stock worth $1,224,000 after purchasing an additional 54 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded down $1.37 during trading on Tuesday, hitting $201.85. 78,326 shares of the company were exchanged, compared to its average volume of 1,120,068. The company has a market cap of $38.37 billion, a PE ratio of 31.56, a P/E/G ratio of 1.88 and a beta of 0.65. The stock has a 50 day moving average of $210.84 and a 200 day moving average of $199.39. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.04. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.27 earnings per share. As a group, equities research analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $1.16 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $4.64 annualized dividend and a dividend yield of 2.30%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s dividend payout ratio is presently 72.05%.

Analyst Ratings Changes

A number of research analysts have weighed in on LHX shares. Raymond James raised their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a report on Thursday, January 11th. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Citigroup boosted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, TheStreet raised L3Harris Technologies from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $229.00.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William H. Swanson purchased 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the transaction, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is currently owned by company insiders.

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.