Amalgamated Bank Lowers Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Amalgamated Bank cut its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,399 shares of the company’s stock after selling 2,168 shares during the period. Amalgamated Bank’s holdings in L3Harris Technologies were worth $9,562,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mondrian Investment Partners LTD boosted its stake in shares of L3Harris Technologies by 32,907.5% in the 3rd quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock valued at $66,208,000 after purchasing an additional 379,094 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in L3Harris Technologies by 53.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock valued at $179,709,000 after buying an additional 296,654 shares during the period. Diamond Hill Capital Management Inc. grew its stake in shares of L3Harris Technologies by 22.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock valued at $252,481,000 after buying an additional 266,468 shares during the last quarter. Mizuho Markets Americas LLC purchased a new position in shares of L3Harris Technologies in the third quarter worth about $35,207,000. Finally, Invesco Ltd. lifted its stake in shares of L3Harris Technologies by 15.3% in the 3rd quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock valued at $254,187,000 after acquiring an additional 193,690 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on LHX shares. Raymond James raised their price target on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. raised their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank of Canada increased their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. UBS Group boosted their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $231.33.

Insider Activity at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares in the company, valued at approximately $12,376,393.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the sale, the senior vice president now owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the sale, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Up 0.4 %

NYSE:LHX traded up $0.90 during mid-day trading on Friday, hitting $212.24. 790,904 shares of the company’s stock were exchanged, compared to its average volume of 1,043,142. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The business has a fifty day moving average price of $210.22 and a 200 day moving average price of $202.31. The company has a market cap of $40.26 billion, a PE ratio of 34.45, a P/E/G ratio of 1.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the company earned $2.86 EPS. Equities analysts predict that L3Harris Technologies, Inc. will post 12.87 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a yield of 2.19%. L3Harris Technologies’s payout ratio is currently 75.32%.

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.