L3Harris Technologies Inc $LHX Shares Sold by Candelo Capital Management LP

Candelo Capital Management LP lowered its position in L3Harris Technologies Inc (NYSE:LHX) by 19.7% during the third quarter, Holdings Channel.com reports. The fund owned 17,022 shares of the company’s stock after selling 4,178 shares during the quarter. L3Harris Technologies accounts for 4.5% of Candelo Capital Management LP’s holdings, making the stock its 7th largest holding. Candelo Capital Management LP’s holdings in L3Harris Technologies were worth $5,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after purchasing an additional 3,001 shares during the period. Los Angeles Capital Management LLC acquired a new position in L3Harris Technologies during the second quarter valued at approximately $230,000. Allworth Financial LP lifted its position in L3Harris Technologies by 2.6% during the second quarter. Allworth Financial LP now owns 3,772 shares of the company’s stock valued at $946,000 after buying an additional 95 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of L3Harris Technologies by 43.0% in the second quarter. SBI Securities Co. Ltd. now owns 1,067 shares of the company’s stock worth $268,000 after acquiring an additional 321 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of L3Harris Technologies by 2.2% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 91,678 shares of the company’s stock worth $22,997,000 after acquiring an additional 2,012 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LHX has been the topic of several recent research reports. Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. BNP Paribas Exane began coverage on L3Harris Technologies in a report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price target for the company. Citigroup raised their price objective on L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Truist Financial set a $364.00 target price on L3Harris Technologies in a research report on Wednesday, January 14th. Finally, TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Trading Up 0.2%

NYSE LHX opened at $358.66 on Friday. The company has a market capitalization of $66.99 billion, a price-to-earnings ratio of 42.05, a price-to-earnings-growth ratio of 2.59 and a beta of 0.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. L3Harris Technologies Inc has a 12 month low of $195.72 and a 12 month high of $379.23. The company’s fifty day moving average price is $349.12 and its two-hundred day moving average price is $308.84.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.10. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.47 EPS. As a group, 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 20th. Investors of record on Friday, March 6th will be issued a $1.25 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s dividend payout ratio is presently 58.62%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the transaction, the insider owned 7,660 shares in the company, valued at approximately $2,836,651.20. This trade represents a 41.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Melanie Rakita sold 751 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $278,110.32. Following the completion of the sale, the vice president owned 4,131 shares of the company’s stock, valued at $1,529,791.92. This trade represents a 15.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,025 shares of company stock worth $6,824,370 over the last quarter. 0.72% of the stock is owned by corporate insiders.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.