Kendall Capital Management Sells 225 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Kendall Capital Management decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 13.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,485 shares of the company’s stock after selling 225 shares during the period. Kendall Capital Management’s holdings in L3Harris Technologies were worth $312,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KCM Investment Advisors LLC raised its stake in L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after acquiring an additional 5,868 shares during the period. Fortem Financial Group LLC bought a new stake in shares of L3Harris Technologies during the third quarter valued at approximately $841,000. Czech National Bank raised its position in shares of L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after buying an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after buying an additional 4,321 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of the company’s 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 sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 4,901 shares of company stock valued at $1,059,757. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Trading Up 3.1 %

Shares of L3Harris Technologies stock opened at $220.47 on Monday. The firm has a 50-day simple moving average of $208.94 and a two-hundred day simple moving average of $227.63. The company has a market cap of $41.52 billion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last released its quarterly 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%. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is currently 60.99%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Bank of America reduced their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Citigroup reduced their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Susquehanna reduced their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Finally, Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus 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.