Schroder Investment Management Group Reduces Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Schroder Investment Management Group reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,217 shares of the company’s stock after selling 711 shares during the quarter. Schroder Investment Management Group’s holdings in L3Harris Technologies were worth $4,251,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LHX. Arrowstreet Capital Limited Partnership purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at about $11,508,000. Allstate Corp bought a new stake in L3Harris Technologies during the 4th quarter valued at approximately $1,169,000. Brown Brothers Harriman & Co. grew its holdings in shares of L3Harris Technologies by 92.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,019 shares of the company’s stock worth $214,000 after acquiring an additional 489 shares during the period. Gardner Lewis Asset Management L P bought a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $1,214,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of L3Harris Technologies by 0.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 56,181 shares of the company’s stock valued at $11,814,000 after purchasing an additional 280 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

NYSE LHX opened at $202.03 on Friday. The stock has a market capitalization of $37.92 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The business’s fifty day moving average price is $208.20 and its 200-day moving average price is $224.79.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LHX has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Barclays decreased their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Finally, Susquehanna reduced their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $260.69.

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.