Flputnam Investment Management Co. Reduces Position in L3Harris Technologies, Inc. (NYSE:LHX)

Flputnam Investment Management Co. lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 22.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,890 shares of the company’s stock after selling 7,269 shares during the period. Flputnam Investment Management Co.’s holdings in L3Harris Technologies were worth $5,242,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LHX. Cowa LLC purchased a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $26,000. Mascoma Wealth Management LLC bought a new position in L3Harris Technologies in the third quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of L3Harris Technologies during the first quarter worth $27,000. KB Financial Partners LLC increased 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 purchasing an additional 82 shares in the last quarter. Finally, First Capital Advisors Group LLC. acquired a new position in shares of L3Harris Technologies during the second quarter worth $29,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.7 %

Shares of NYSE:LHX traded down $1.37 during mid-day trading on Tuesday, reaching $201.85. 78,326 shares of the company were exchanged, compared to its average volume of 1,120,068. 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, Inc. has a 1 year low of $160.25 and a 1 year high of $218.34. The firm has a market cap of $38.37 billion, a price-to-earnings ratio of 31.56, a P/E/G ratio of 1.88 and a beta of 0.65. The firm’s 50-day simple moving average is $210.84 and its 200 day simple moving average is $199.39.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.27 earnings per share. Equities research analysts forecast that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $1.16 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 2.30%. The ex-dividend date was Thursday, March 7th. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LHX. Raymond James upped their price target on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Wells Fargo & Company cut their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target on the stock in a report on Thursday, January 11th. Finally, Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $229.00.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the transaction, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 over the last ninety days. Corporate insiders own 0.87% of the company’s stock.

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.