L3Harris Technologies Inc (NYSE:LHX) Shares Sold by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management Inc. reduced its stake in L3Harris Technologies Inc. by 1.2%, owning approximately $26.75 million worth of shares after selling 1,593 shares in the first quarter.
• CEO Christopher E. Kubasik sold 33,061 shares of the company's stock for over $8.2 million, reducing his ownership by 18.51%.
• L3Harris Technologies announced a quarterly dividend of $1.20 per share, representing an annualized dividend of $4.80 and a yield of 1.78%.

Thornburg Investment Management Inc. lowered its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 1.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 127,818 shares of the company's stock after selling 1,593 shares during the period. Thornburg Investment Management Inc. owned approximately 0.07% of L3Harris Technologies worth $26,754,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of L3Harris Technologies by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock worth $1,004,418,000 after purchasing an additional 53,787 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in L3Harris Technologies by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock valued at $486,898,000 after acquiring an additional 311,886 shares during the period. FMR LLC raised its holdings in L3Harris Technologies by 11.5% during the 4th quarter. FMR LLC now owns 2,261,999 shares of the company's stock valued at $475,653,000 after acquiring an additional 233,968 shares during the period. Invesco Ltd. raised its holdings in L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after acquiring an additional 522,861 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of L3Harris Technologies by 7.7% in the fourth quarter. Northern Trust Corp now owns 1,631,041 shares of the company's stock worth $342,975,000 after purchasing an additional 116,266 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

LHX has been the topic of several research analyst reports. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Susquehanna upped their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a report on Friday, July 25th. UBS Group upped their price target on shares of 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 upped their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Finally, Truist Financial increased their target price on L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $279.47.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 72,000 shares of the business's stock in a transaction that occurred 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 completion of 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 position. 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 that occurred 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 sale, the insider owned 25,325 shares of the company's stock, valued at $6,204,625. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,061 shares of company stock worth $28,227,077. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

LHX stock traded up $3.37 on Friday, hitting $278.19. The company had a trading volume of 1,412,687 shares, compared to its average volume of 1,455,594. The stock's 50-day simple moving average is $254.26 and its 200 day simple moving average is $227.38. The stock has a market cap of $52.05 billion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 2.12 and a beta of 0.75. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $280.03. 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 earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. During the same period in the prior year, the company earned $3.24 EPS. The business's revenue was up 2.4% compared to the same quarter last year. As a group, equities research 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 declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is currently 53.63%.

L3Harris Technologies Company 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.