Freemont Management S.A. Has $1.44 Million Holdings in L3Harris Technologies Inc $LHX

Freemont Management S.A. decreased its stake in L3Harris Technologies Inc (NYSE:LHX) by 88.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,700 shares of the company’s stock after selling 35,300 shares during the quarter. Freemont Management S.A.’s holdings in L3Harris Technologies were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Twin Lakes Capital Management LLC raised its position in shares of L3Harris Technologies by 0.3% in the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock valued at $4,380,000 after acquiring an additional 38 shares during the period. Fidelis Capital Partners LLC increased its stake in L3Harris Technologies by 2.2% in the second quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock valued at $493,000 after purchasing an additional 39 shares in the last quarter. Patrick M Sweeney & Associates Inc. raised its holdings in L3Harris Technologies by 3.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock worth $280,000 after purchasing an additional 40 shares during the period. Moment Partners LLC boosted its position in shares of L3Harris Technologies by 1.6% during the third quarter. Moment Partners LLC now owns 2,501 shares of the company’s stock worth $764,000 after purchasing an additional 40 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its position in shares of L3Harris Technologies by 3.9% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,085 shares of the company’s stock worth $331,000 after purchasing an additional 41 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on LHX shares. Truist Financial set a $364.00 price objective on L3Harris Technologies in a research note on Wednesday, January 14th. BNP Paribas Exane raised L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Citigroup lifted their price objective on L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Wall Street Zen cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Stock Down 0.2%

NYSE:LHX opened at $339.75 on Friday. The stock has a 50-day simple moving average of $320.36 and a 200 day simple moving average of $296.25. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $369.59. The company has a market cap of $63.55 billion, a PE ratio of 39.83, a PEG ratio of 2.45 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm had revenue of $5.65 billion for 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 business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.5%. L3Harris Technologies’s dividend payout ratio is currently 56.27%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Samir Mehta sold 4,840 shares of L3Harris Technologies stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total value of $1,640,034.00. Following the sale, the insider directly owned 5,916 shares in the company, valued at approximately $2,004,636.60. The trade was a 45.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Company 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.