L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Washington Capital Management Inc.

Washington Capital Management Inc. lessened its stake in L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 6.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,460 shares of the company’s stock after selling 405 shares during the period. L3Harris Technologies comprises 1.0% of Washington Capital Management Inc.’s investment portfolio, making the stock its 22nd biggest position. Washington Capital Management Inc.’s holdings in L3Harris Technologies were worth $1,150,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $342,413,000. Cowa LLC purchased a new position in L3Harris Technologies in the first quarter worth approximately $26,000. Renaissance Technologies LLC grew its position in L3Harris Technologies by 284.1% in the first quarter. Renaissance Technologies LLC now owns 766,870 shares of the company’s stock worth $150,491,000 after acquiring an additional 567,200 shares during the period. Two Sigma Investments LP purchased a new position in L3Harris Technologies in the first quarter worth approximately $83,532,000. Finally, Manning & Napier Group LLC grew its position in L3Harris Technologies by 58.6% in the third quarter. Manning & Napier Group LLC now owns 1,034,176 shares of the company’s stock worth $180,071,000 after acquiring an additional 381,997 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LHX shares. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target on the stock in a research note on Thursday, January 11th. Raymond James raised their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Truist Financial raised their price objective on L3Harris Technologies from $224.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, December 14th. Citigroup raised 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, UBS Group raised their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $229.00.

View Our Latest Research Report on LHX

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction dated 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 in the company, valued at $6,057,346.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 in the last ninety days. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $213.10 on Friday. The firm has a 50 day moving average of $211.23 and a 200-day moving average of $196.52. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $218.34. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The company has a market cap of $40.51 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 1.98 and a beta of 0.65.

L3Harris Technologies (NYSE:LHXGet Free Report) last issued its quarterly earnings data 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. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the firm posted $3.27 EPS. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $1.16 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Thursday, March 7th. L3Harris Technologies’s payout ratio is currently 72.05%.

L3Harris Technologies Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies, Inc. (NYSE:LHXFree Report).

Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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