Thrivent Financial for Lutherans Sells 13,723 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Thrivent Financial for Lutherans decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 385,634 shares of the company’s stock after selling 13,723 shares during the period. Thrivent Financial for Lutherans’ holdings in L3Harris Technologies were worth $81,229,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. PDS Planning Inc raised its position in shares of L3Harris Technologies by 5.8% during the 4th quarter. PDS Planning Inc now owns 1,100 shares of the company’s stock valued at $231,000 after acquiring an additional 60 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $75,000. Cibc World Markets Corp grew its holdings in shares of L3Harris Technologies by 16.3% in the 4th quarter. Cibc World Markets Corp now owns 29,960 shares of the company’s stock valued at $6,300,000 after buying an additional 4,194 shares during the period. SouthState Corp grew its holdings in shares of L3Harris Technologies by 0.8% in the 4th quarter. SouthState Corp now owns 57,844 shares of the company’s stock valued at $12,163,000 after buying an additional 474 shares during the period. Finally, Glenview Trust co acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $274,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Citigroup reduced their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, Truist Financial reduced their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $261.40.

L3Harris Technologies Trading Down 0.2 %

L3Harris Technologies stock opened at $212.46 on Wednesday. The firm has a 50-day moving average of $209.62 and a 200-day moving average of $226.67. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company has a market cap of $39.88 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, equities analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Insider Activity

In other news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ross Niebergall sold 1,764 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,098 shares of company stock valued at $1,760,588. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Profile

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.