Barrow Hanley Mewhinney & Strauss LLC Cuts Position in L3Harris Technologies Inc $LHX

Barrow Hanley Mewhinney & Strauss LLC trimmed its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,752 shares of the company’s stock after selling 1,915 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in L3Harris Technologies were worth $20,692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Caitlin John LLC acquired a new stake in shares of L3Harris Technologies in the third quarter valued at $28,000. GGM Financials LLC purchased a new position in L3Harris Technologies during the 3rd quarter valued at about $32,000. Twin Peaks Wealth Advisors LLC purchased a new position in L3Harris Technologies during the 2nd quarter valued at about $34,000. Salomon & Ludwin LLC acquired a new position in L3Harris Technologies in the 3rd quarter valued at about $34,000. Finally, Rakuten Securities Inc. increased its stake in L3Harris Technologies by 234.8% during the second quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock worth $39,000 after purchasing an additional 108 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. BNP Paribas Exane upgraded shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. TD Cowen reissued a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Argus upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Weiss Ratings raised L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Trading Up 0.8%

Shares of NYSE:LHX opened at $364.47 on Thursday. L3Harris Technologies Inc has a 52 week low of $195.72 and a 52 week high of $379.23. The company’s 50 day moving average is $346.76 and its two-hundred day moving average is $307.71. The company has a market cap of $68.07 billion, a PE ratio of 42.73, a P/E/G ratio of 2.61 and a beta of 0.63. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

L3Harris Technologies (NYSE:LHX) last posted 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. The firm 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%.L3Harris Technologies’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.47 earnings per share. Equities analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared 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. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s dividend payout ratio is currently 58.62%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the sale, the insider directly owned 7,660 shares in the company, valued at $2,836,651.20. This trade represents a 41.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samir Mehta sold 5,528 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. This trade represents a 41.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,025 shares of company stock worth $6,824,370 over the last three months. Insiders own 0.72% of the company’s stock.

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.