FourThought Financial LLC Sells 266 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

FourThought Financial LLC reduced its position in shares of L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 15.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,483 shares of the company’s stock after selling 266 shares during the quarter. FourThought Financial LLC’s holdings in L3Harris Technologies were worth $308,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LHX. Vanguard Group Inc. raised its holdings in L3Harris Technologies by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 17,282,623 shares of the company’s stock valued at $3,591,848,000 after buying an additional 302,279 shares during the period. BlackRock Inc. raised its holdings in L3Harris Technologies by 15.1% during the 3rd quarter. BlackRock Inc. now owns 14,314,799 shares of the company’s stock valued at $2,975,043,000 after buying an additional 1,875,236 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in L3Harris Technologies by 17.4% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 9,758,276 shares of the company’s stock valued at $2,028,151,000 after buying an additional 1,448,364 shares during the period. FMR LLC raised its holdings in L3Harris Technologies by 6.4% during the 2nd quarter. FMR LLC now owns 2,214,357 shares of the company’s stock valued at $535,211,000 after buying an additional 134,085 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in L3Harris Technologies by 0.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,813,445 shares of the company’s stock valued at $438,309,000 after buying an additional 10,947 shares during the period. 82.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LHX has been the topic of several recent research reports. Credit Suisse Group decreased their price target on L3Harris Technologies from $244.00 to $240.00 and set an “outperform” rating on the stock in a report on Friday, January 20th. StockNews.com began coverage on L3Harris Technologies in a research note on Thursday. They issued a “buy” rating on the stock. Wells Fargo & Company increased their target price on L3Harris Technologies from $219.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. JPMorgan Chase & Co. reduced their target price on L3Harris Technologies from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Monday, December 12th. Finally, Robert W. Baird lowered L3Harris Technologies from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $290.00 to $241.00 in a research note on Monday, December 19th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $259.46.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $202.27 on Friday. L3Harris Technologies, Inc. has a 1-year low of $189.73 and a 1-year high of $264.71. The stock’s 50-day moving average is $206.59 and its 200 day moving average is $218.42. The company has a market cap of $38.42 billion, a P/E ratio of 36.98, a PEG ratio of 6.33 and a beta of 0.71. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.17 and a quick ratio of 0.95.

L3Harris Technologies (NYSE:LHX – Get Rating) last issued its quarterly earnings data on Friday, January 27th. The company reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.21 by $0.06. L3Harris Technologies had a return on equity of 13.20% and a net margin of 6.22%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter last year, the company earned $3.30 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts predict that L3Harris Technologies, Inc. will post 12.32 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be given a dividend of $1.14 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $4.56 dividend on an annualized basis and a yield of 2.25%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.12. L3Harris Technologies’s dividend payout ratio (DPR) is presently 83.36%.

About L3Harris Technologies

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L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.