Systematic Financial Management LP Sells 100 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Systematic Financial Management LP cut its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 20,655 shares of the company’s stock after selling 100 shares during the period. Systematic Financial Management LP’s holdings in L3Harris Technologies were worth $4,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in LHX. SeaCrest Wealth Management LLC boosted its stake in L3Harris Technologies by 4.4% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,755 shares of the company’s stock valued at $369,000 after purchasing an additional 74 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 43.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,963 shares of the company’s stock worth $1,044,000 after purchasing an additional 1,501 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of L3Harris Technologies by 29.4% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,308 shares of the company’s stock worth $275,000 after purchasing an additional 297 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services grew its holdings in shares of L3Harris Technologies by 0.3% during the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 28,389 shares of the company’s stock worth $5,970,000 after purchasing an additional 77 shares in the last quarter. Finally, Merit Financial Group LLC grew its holdings in shares of L3Harris Technologies by 20.5% during the 4th quarter. Merit Financial Group LLC now owns 5,652 shares of the company’s stock worth $1,188,000 after purchasing an additional 961 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was 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 in the company, valued at $632,122. This trade represents a 53.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $230.42 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $43.08 billion, a PE ratio of 29.28, a P/E/G ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock has a 50-day moving average price of $214.69 and a two-hundred day moving average price of $219.35.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the company earned $3.06 earnings per share. Analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 2.08%. L3Harris Technologies’s dividend payout ratio is presently 56.94%.

Analysts Set New Price Targets

Several research firms have recently issued reports on LHX. JPMorgan Chase & Co. reduced their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and increased their target price for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Bank of America reduced their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Finally, Truist Financial reduced their target price on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $256.56.

L3Harris Technologies Company 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.