Whittier Trust Co. Lowers Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Whittier Trust Co. cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 31.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 861 shares of the company’s stock after selling 393 shares during the period. Whittier Trust Co.’s holdings in L3Harris Technologies were worth $181,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Magnetar Financial LLC boosted its holdings in L3Harris Technologies by 21.6% during the fourth quarter. Magnetar Financial LLC now owns 29,211 shares of the company’s stock worth $6,142,000 after buying an additional 5,187 shares in the last quarter. Teacher Retirement System of Texas raised its position in L3Harris Technologies by 235.2% during the fourth quarter. Teacher Retirement System of Texas now owns 11,190 shares of the company’s stock worth $2,353,000 after acquiring an additional 7,852 shares during the period. Sandy Spring Bank raised its position in L3Harris Technologies by 1.6% during the fourth quarter. Sandy Spring Bank now owns 20,624 shares of the company’s stock worth $4,337,000 after acquiring an additional 315 shares during the period. Royal London Asset Management Ltd. raised its position in L3Harris Technologies by 3.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 90,963 shares of the company’s stock worth $19,128,000 after acquiring an additional 3,405 shares during the period. Finally, GM Advisory Group LLC raised its position in L3Harris Technologies by 6.0% during the fourth quarter. GM Advisory Group LLC now owns 1,298 shares of the company’s stock worth $273,000 after acquiring an additional 74 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 0.8 %

Shares of LHX opened at $208.15 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The firm has a 50-day moving average price of $209.80 and a 200 day moving average price of $226.13. The firm has a market capitalization of $39.07 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.31%. The ex-dividend date was Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,334 shares of company stock valued at $1,383,709 over the last 90 days. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LHX. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. UBS Group upped their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. 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 report on Friday, January 31st. Susquehanna reduced their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

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.