L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 653,768 shares of the company’s stock after selling 831 shares during the period. Yacktman Asset Management LP’s holdings in L3Harris Technologies were worth $137,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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 acquiring an additional 82 shares during the last quarter. New England Capital Financial Advisors LLC purchased a new stake in L3Harris Technologies during the 3rd quarter worth approximately $35,000. Blue Trust Inc. raised its position in shares of L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after purchasing an additional 109 shares in the last quarter. Washington Trust Advisors Inc. boosted its stake in shares of L3Harris Technologies by 80.6% during the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after buying an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth approximately $46,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded up $8.75 during trading hours on Friday, hitting $216.11. 1,483,093 shares of the company traded hands, compared to its average volume of 1,117,319. 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 $41.08 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.93 and a beta of 0.65. The firm’s 50-day simple moving average is $210.11 and its two-hundred day simple moving average is $201.04. 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 (NYSE:LHX) last announced its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter in the previous year, the company earned $2.86 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s payout ratio is 72.05%.

Insider Activity

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William H. Swanson purchased 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now directly owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. In 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.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LHX. UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research report on Monday. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Citigroup increased their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, Wells Fargo & Company dropped their price target 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. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $229.60.

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.