King Luther Capital Management Corp Has $63.45 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

King Luther Capital Management Corp lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 14.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 301,755 shares of the company’s stock after selling 51,091 shares during the quarter. King Luther Capital Management Corp owned approximately 0.16% of L3Harris Technologies worth $63,453,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LHX. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $27,000. Roxbury Financial LLC bought a new position in L3Harris Technologies during the fourth quarter worth about $30,000. Archer Investment Corp grew its holdings in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the period. Union Bancaire Privee UBP SA bought a new position in L3Harris Technologies during the fourth quarter worth about $33,000. Finally, Kennebec Savings Bank bought a new position in L3Harris Technologies during the third quarter worth about $36,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America reduced their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Company reduced their price target on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a report on Friday. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Citigroup reduced their price target on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. reduced their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Trading Down 0.9 %

Shares of LHX stock opened at $218.16 on Tuesday. 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 stock has a market cap of $41.08 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The stock has a 50 day simple moving average of $209.13 and a 200 day simple moving average of $227.53. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a dividend of $1.20 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.20%. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s payout ratio is currently 60.99%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the transaction, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,862 shares of company stock worth $2,155,054 over the last three months. Corporate insiders own 0.82% 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.