Headlands Technologies LLC Lowers Stake in L3Harris Technologies Inc (NYSE:LHX)

Headlands Technologies LLC cut its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 95.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,070 shares of the company's stock after selling 21,079 shares during the quarter. Headlands Technologies LLC's holdings in L3Harris Technologies were worth $224,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after acquiring an additional 3,001 shares in the last quarter. Scotia Capital Inc. increased its stake in shares of L3Harris Technologies by 1.9% in the 4th quarter. Scotia Capital Inc. now owns 8,207 shares of the company's stock worth $1,726,000 after acquiring an additional 152 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of L3Harris Technologies by 39.9% in the 4th quarter. Sterling Capital Management LLC now owns 14,130 shares of the company's stock worth $2,971,000 after acquiring an additional 4,028 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of L3Harris Technologies by 111.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 313,909 shares of the company's stock worth $66,009,000 after acquiring an additional 165,673 shares in the last quarter. Finally, Sagespring Wealth Partners LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth about $1,291,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LHX shares. Citigroup raised their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Susquehanna raised their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a report on Friday, July 25th. Royal Bank Of Canada raised their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Wall Street Zen downgraded shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $279.47.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 72,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at $39,472,018.92. The trade was a 33.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the transaction, the insider owned 25,325 shares in the company, valued at $6,204,625. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,199 shares of company stock worth $39,045,071 in the last quarter. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

LHX traded down $0.38 during trading hours on Friday, hitting $270.67. The company's stock had a trading volume of 203,510 shares, compared to its average volume of 1,436,531. The business's 50-day moving average price is $260.46 and its 200-day moving average price is $231.17. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $280.52. The stock has a market cap of $50.64 billion, a price-to-earnings ratio of 30.27, a P/E/G ratio of 1.98 and a beta of 0.77. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Dividend Announcement

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