L3Harris Technologies Inc $LHX Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. lessened its holdings in L3Harris Technologies Inc (NYSE:LHX) by 50.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,601 shares of the company’s stock after selling 2,670 shares during the period. Cim Investment Management Inc.’s holdings in L3Harris Technologies were worth $794,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. First Horizon Corp acquired a new stake in L3Harris Technologies in the 3rd quarter valued at $10,667,000. Merit Financial Group LLC increased its holdings in L3Harris Technologies by 55.9% in the 3rd quarter. Merit Financial Group LLC now owns 9,989 shares of the company’s stock worth $3,051,000 after acquiring an additional 3,583 shares in the last quarter. Korea Investment CORP raised its position in L3Harris Technologies by 11.2% during the third quarter. Korea Investment CORP now owns 153,567 shares of the company’s stock worth $46,901,000 after acquiring an additional 15,408 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in L3Harris Technologies by 13.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company’s stock valued at $9,230,000 after purchasing an additional 3,532 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in L3Harris Technologies by 32.6% during the third quarter. Oregon Public Employees Retirement Fund now owns 21,324 shares of the company’s stock valued at $6,513,000 after purchasing an additional 5,239 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.7%

LHX stock opened at $368.84 on Wednesday. L3Harris Technologies Inc has a one year low of $195.72 and a one year high of $379.23. The firm has a market cap of $68.89 billion, a PE ratio of 43.24, a PEG ratio of 2.64 and a beta of 0.63. The firm’s 50 day moving average price is $351.30 and its 200-day moving average price is $310.34. 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 issued its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.10. The company had revenue of $5.65 billion during 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 firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.47 earnings per share. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders 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 represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio (DPR) is currently 58.62%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 5,528 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the transaction, the insider owned 7,756 shares of the company’s stock, valued at $2,872,201.92. This represents a 41.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jon Rambeau sold 5,528 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the transaction, the insider directly owned 7,660 shares of the company’s stock, valued at approximately $2,836,651.20. This trade represents a 41.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 19,025 shares of company stock worth $6,824,370. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LHX shares. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, February 6th. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a research note on Wednesday, January 14th. Citigroup lifted their price objective on L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a research note on Monday, January 5th. Finally, Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

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.