Focused Investors LLC Has $108.08 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Focused Investors LLC reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 454,350 shares of the company’s stock after selling 8,500 shares during the period. L3Harris Technologies accounts for 3.3% of Focused Investors LLC’s holdings, making the stock its 17th biggest position. Focused Investors LLC’s holdings in L3Harris Technologies were worth $108,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in L3Harris Technologies in the first quarter valued at about $228,000. Kingsview Wealth Management LLC grew its stake in shares of L3Harris Technologies by 9.5% in the 1st quarter. Kingsview Wealth Management LLC now owns 3,687 shares of the company’s stock valued at $786,000 after buying an additional 319 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in L3Harris Technologies by 21.3% in the first quarter. Orion Portfolio Solutions LLC now owns 9,389 shares of the company’s stock worth $2,001,000 after buying an additional 1,650 shares during the last quarter. TIAA Trust National Association raised its position in L3Harris Technologies by 4.1% during the first quarter. TIAA Trust National Association now owns 3,737 shares of the company’s stock valued at $796,000 after acquiring an additional 148 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its stake in L3Harris Technologies by 151.6% in the first quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock valued at $822,000 after acquiring an additional 2,325 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $247.00 on Friday. The business has a fifty day moving average of $243.16 and a 200-day moving average of $232.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a twelve month low of $184.34 and a twelve month high of $265.74. The firm has a market cap of $46.85 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the company posted $3.19 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is 73.30%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the sale, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. The trade was a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 8,964 shares of company stock worth $2,179,119. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Citigroup raised their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Susquehanna upped their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Finally, Barclays increased their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $267.50.

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.