B&D White Capital Company LLC Cuts Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

B&D White Capital Company LLC lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 47.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,300 shares of the company’s stock after selling 5,600 shares during the period. L3Harris Technologies makes up about 0.4% of B&D White Capital Company LLC’s investment portfolio, making the stock its 28th biggest position. B&D White Capital Company LLC’s holdings in L3Harris Technologies were worth $1,327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of LHX. Norges Bank acquired a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $342,413,000. Cowa LLC acquired a new stake in shares of L3Harris Technologies in the 1st quarter worth approximately $26,000. Renaissance Technologies LLC grew its holdings in shares of L3Harris Technologies by 284.1% in the 1st quarter. Renaissance Technologies LLC now owns 766,870 shares of the company’s stock worth $150,491,000 after acquiring an additional 567,200 shares during the period. Two Sigma Investments LP acquired a new stake in L3Harris Technologies during the 1st quarter valued at $83,532,000. Finally, Manning & Napier Group LLC grew its holdings in L3Harris Technologies by 58.6% during the 3rd quarter. Manning & Napier Group LLC now owns 1,034,176 shares of the company’s stock valued at $180,071,000 after buying an additional 381,997 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of several analyst reports. Citigroup raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Royal Bank of Canada increased their target price on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. TheStreet raised L3Harris Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Finally, UBS Group increased their target price on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $229.00.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the sale, the insider now owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director William H. Swanson acquired 1,250 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the transaction, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 transaction of $783,919.29. Following the sale, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,362 shares of company stock worth $10,261,360. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Trading Up 0.8 %

Shares of NYSE LHX traded up $1.70 during midday trading on Monday, reaching $204.32. 334,007 shares of the stock were exchanged, compared to its average volume of 1,125,230. The company has a market capitalization of $38.84 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 1.88 and a beta of 0.65. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The business has a 50-day simple moving average of $210.92 and a two-hundred day simple moving average of $199.17. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82.

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

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $1.16 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $4.64 dividend on an annualized basis and a yield of 2.27%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s dividend payout ratio is 72.05%.

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.