Machina Capital S.A.S. Sells 5,384 Shares of L3Harris Technologies Inc (NYSE:LHX)

Machina Capital S.A.S. trimmed its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 69.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,399 shares of the company's stock after selling 5,384 shares during the quarter. Machina Capital S.A.S.'s holdings in L3Harris Technologies were worth $502,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its position in shares of L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after buying an additional 82 shares during the period. Beacon Capital Management LLC lifted its stake in L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of 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 period. Park Square Financial Group LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $37,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of 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 period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Down 1.5%

LHX traded down $4.15 during trading on Friday, reaching $269.07. The company had a trading volume of 1,965,092 shares, compared to its average volume of 1,267,688. The stock has a market cap of $50.30 billion, a P/E ratio of 30.06, a PEG ratio of 2.13 and a beta of 0.75. The business has a 50 day simple moving average of $251.14 and a 200-day simple moving average of $225.63. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $280.03. The company has a quick ratio of 0.85, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $3.24 earnings per share. On average, equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders 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 annualized dividend and a dividend yield of 1.78%. L3Harris Technologies's dividend payout ratio (DPR) is 53.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LHX shares. Jefferies Financial Group decreased their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. UBS Group increased their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a report on Friday. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price objective for the company from $198.00 to $263.00 in a report on Friday, April 11th. Finally, Wall Street Zen lowered shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $276.53.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider directly owned 25,325 shares in the company, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the sale, the chief executive officer owned 145,572 shares of the company's stock, valued at approximately $36,171,730.56. This trade represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

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.