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

Yousif Capital Management LLC lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,255 shares of the company’s stock after selling 769 shares during the period. Yousif Capital Management LLC’s holdings in L3Harris Technologies were worth $4,898,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Strong Tower Advisory Services increased its position in L3Harris Technologies by 0.9% during the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after buying an additional 49 shares during the period. Blossom Wealth Management increased its position in L3Harris Technologies by 2.1% during the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after buying an additional 51 shares during the period. Parkside Financial Bank & Trust increased its position in L3Harris Technologies by 13.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock worth $106,000 after buying an additional 58 shares during the period. Cassaday & Co Wealth Management LLC increased its position in L3Harris Technologies by 3.8% during the third quarter. Cassaday & Co Wealth Management LLC now owns 1,622 shares of the company’s stock worth $282,000 after buying an additional 59 shares during the period. Finally, Sky Investment Group LLC increased its position in L3Harris Technologies by 4.2% during the third quarter. Sky Investment Group LLC now owns 1,495 shares of the company’s stock worth $260,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William H. Swanson purchased 1,250 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 48,362 shares of company stock worth $10,261,360. 0.82% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research report on Monday, April 22nd. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. UBS Group lifted their target price on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price on the stock in a research note on Thursday, January 11th. Finally, Citigroup lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $229.60.

L3Harris Technologies Stock Up 3.5 %

L3Harris Technologies stock opened at $214.54 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34. The company has a market cap of $40.79 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 1.93 and a beta of 0.65. The stock’s 50 day moving average price is $210.16 and its 200 day moving average price is $201.28.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. L3Harris Technologies’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.86 earnings per share. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. The ex-dividend date is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a yield of 2.16%. L3Harris Technologies’s payout ratio is 75.32%.

About L3Harris Technologies

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.