Dimensional Fund Advisors LP Has $287.82 Million Stake in L3Harris Technologies Inc (NYSE:LHX)

Key Points

• Dimensional Fund Advisors LP reduced its stake in L3Harris Technologies Inc by 2.7% in Q1, now owning approximately 0.74% of the company, valued at about $287.82 million.
• Several institutional investors have adjusted their positions in L3Harris, with 84.76% of the stock currently held by institutional investors and hedge funds.
• L3Harris announced a quarterly dividend of $1.20, which reflects an annualized yield of 1.8% and a payout ratio of 53.63%.

Dimensional Fund Advisors LP trimmed its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,375,081 shares of the company's stock after selling 37,737 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.74% of L3Harris Technologies worth $287,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Clearstead Trust LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter valued at about $26,000. Beacon Capital Management LLC lifted its holdings in L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after purchasing an additional 111 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in L3Harris Technologies in the 4th quarter worth approximately $37,000. Finally, Cornerstone Planning Group LLC lifted its holdings in L3Harris Technologies by 323.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after purchasing an additional 139 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the sale, the insider directly owned 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 40,138 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $269.52, for a total value of $10,817,993.76. Following the completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at $39,236,182.56. This trade represents a 21.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,199 shares of company stock worth $39,045,071 over the last quarter. Company insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

LHX has been the subject of several analyst reports. Citigroup boosted their target price on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. UBS Group boosted their target price on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Royal Bank Of Canada boosted their target price on L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Finally, Barclays upped their price target on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and an average price target of $279.47.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $270.72 on Friday. The business has a fifty day simple moving average of $260.99 and a 200 day simple moving average of $231.70. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $50.65 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 1.98 and a beta of 0.77. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.52.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%. L3Harris Technologies's revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.24 earnings per share. Sell-side analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's dividend payout ratio is 53.63%.

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.

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