Spring Capital Management LLC Sells 57 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Spring Capital Management LLC lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,148 shares of the company’s stock after selling 57 shares during the period. L3Harris Technologies comprises about 3.8% of Spring Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding. Spring Capital Management LLC’s holdings in L3Harris Technologies were worth $4,875,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in shares of L3Harris Technologies in the second quarter valued at about $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of L3Harris Technologies in the first quarter worth about $27,000. First Capital Advisors Group LLC. bought a new stake in L3Harris Technologies during the second quarter worth approximately $29,000. Mascoma Wealth Management LLC bought a new stake in L3Harris Technologies during the third quarter worth approximately $27,000. Finally, KB Financial Partners LLC grew its stake 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 valued at $29,000 after buying an additional 82 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.6 %

Shares of NYSE LHX opened at $212.50 on Thursday. The firm has a market cap of $40.40 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 1.96 and a beta of 0.65. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34. The business’s 50 day moving average is $210.75 and its two-hundred day moving average is $195.98.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the company earned $3.27 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. Research analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.18%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

Insider Buying and Selling

In related news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. 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. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LHX. Truist Financial boosted their price target on L3Harris Technologies from $224.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, December 14th. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft raised L3Harris Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $184.00 to $240.00 in a research report on Friday, December 15th. UBS Group increased their price target on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Finally, Citigroup increased their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $229.00.

About L3Harris Technologies

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.