Yousif Capital Management LLC Reduces Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Yousif Capital Management LLC trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,255 shares of the company’s stock after selling 769 shares during the quarter. Yousif Capital Management LLC’s holdings in L3Harris Technologies were worth $4,898,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of LHX. Manning & Napier Group LLC boosted its stake in shares of L3Harris Technologies by 58.6% during the third quarter. Manning & Napier Group LLC now owns 1,034,176 shares of the company’s stock valued at $180,071,000 after purchasing an additional 381,997 shares during the period. Mondrian Investment Partners LTD boosted its stake in shares of L3Harris Technologies by 32,907.5% during the third quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock valued at $66,208,000 after purchasing an additional 379,094 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of L3Harris Technologies by 53.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock valued at $179,709,000 after purchasing an additional 296,654 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of L3Harris Technologies by 22.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock valued at $252,481,000 after purchasing an additional 266,468 shares during the period. Finally, Mizuho Markets Americas LLC purchased a new stake in shares of L3Harris Technologies during the third quarter valued at $35,207,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a report on Monday, April 22nd. Royal Bank of Canada lifted their price objective on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, January 29th. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a report on Thursday, January 11th. Finally, StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.60.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,362 shares of company stock worth $10,261,360. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $214.54 on Friday. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The company has a market capitalization of $40.79 billion, a PE ratio of 34.83, a P/E/G ratio of 1.93 and a beta of 0.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. The company has a 50-day simple moving average of $210.16 and a two-hundred day simple moving average of $201.28.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same quarter in the previous year, the firm earned $2.86 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. Research analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS 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. Stockholders of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.16%. L3Harris Technologies’s payout ratio is 75.32%.

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.