L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 52.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,797 shares of the company’s stock after selling 31,188 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in L3Harris Technologies were worth $6,065,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LHX. KB Financial Partners LLC grew its position in shares of L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after buying an additional 82 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new position in L3Harris Technologies in the third quarter valued at approximately $35,000. Blue Trust Inc. boosted its holdings in L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after purchasing an additional 109 shares in the last quarter. Washington Trust Advisors Inc. boosted its holdings in L3Harris Technologies by 80.6% in the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after purchasing an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in L3Harris Technologies in the fourth quarter valued at approximately $46,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LHX shares. Royal Bank of Canada upped their price target on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Raymond James upped their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. JPMorgan Chase & Co. upped their price target on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Barclays boosted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, UBS Group boosted their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.80.

View Our Latest Analysis on LHX

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $223.59 on Tuesday. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $224.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The business has a 50 day simple moving average of $211.64 and a 200-day simple moving average of $206.24. The stock has a market capitalization of $42.41 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 1.87 and a beta of 0.63.

L3Harris Technologies (NYSE:LHXGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter in the prior year, the business earned $2.86 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities analysts predict that L3Harris Technologies, Inc. will post 12.92 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.08%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies’s payout ratio is 75.32%.

Insiders Place Their Bets

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is owned by corporate insiders.

About L3Harris Technologies

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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