L3Harris Technologies Inc $LHX Shares Sold by Horrell Capital Management Inc.

Horrell Capital Management Inc. reduced its holdings in L3Harris Technologies Inc (NYSE:LHX) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,182 shares of the company’s stock after selling 2,245 shares during the period. L3Harris Technologies accounts for about 3.2% of Horrell Capital Management Inc.’s portfolio, making the stock its 10th largest holding. Horrell Capital Management Inc.’s holdings in L3Harris Technologies were worth $7,691,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. First Horizon Corp acquired a new position in L3Harris Technologies during the third quarter worth $10,667,000. Merit Financial Group LLC lifted its position in shares of L3Harris Technologies by 55.9% in the third quarter. Merit Financial Group LLC now owns 9,989 shares of the company’s stock valued at $3,051,000 after buying an additional 3,583 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of L3Harris Technologies by 32.6% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 21,324 shares of the company’s stock worth $6,513,000 after acquiring an additional 5,239 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of L3Harris Technologies by 13.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company’s stock worth $9,230,000 after acquiring an additional 3,532 shares during the last quarter. Finally, Focused Investors LLC increased its holdings in shares of L3Harris Technologies by 4.2% during the 3rd quarter. Focused Investors LLC now owns 448,450 shares of the company’s stock worth $136,961,000 after acquiring an additional 18,200 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on LHX. Truist Financial set a $364.00 price objective on shares of L3Harris Technologies in a research report on Wednesday, January 14th. Vertical Research reissued a “buy” rating and issued a $355.00 price target on shares of L3Harris Technologies in a report on Tuesday, January 13th. JPMorgan Chase & Co. boosted their price objective on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Morgan Stanley increased their target price on L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $328.57.

Insiders Place Their Bets

In other news, insider Samir Mehta sold 4,840 shares of the company’s 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 of the company’s stock, valued at approximately $2,004,636.60. This represents a 45.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE LHX opened at $346.52 on Wednesday. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $369.59. The firm has a market capitalization of $64.72 billion, a price-to-earnings ratio of 40.62, a P/E/G ratio of 2.49 and a beta of 0.64. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm’s 50 day simple moving average is $324.34 and its 200 day simple moving average is $298.08.

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

L3Harris Technologies Increases Dividend

The business 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 $1.25 dividend. The ex-dividend date is Friday, March 6th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 56.27%.

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.