Universal Beteiligungs und Servicegesellschaft mbH Lowers Holdings in L3Harris Technologies Inc (NYSE:LHX)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has reduced its stake in L3Harris Technologies by 10.1%, now holding 21,834 shares worth approximately $4.57 million.
• Several institutional investors, including Allspring Global Investments and Geode Capital Management, have increased their holdings in L3Harris Technologies amidst a growing interest in the company's stock.
• L3Harris Technologies recently announced a $1.20 quarterly dividend per share, with a payout ratio of 53.63%, reflecting the company's strong performance in the market.

Universal Beteiligungs und Servicegesellschaft mbH lessened its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 10.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,834 shares of the company's stock after selling 2,443 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH's holdings in L3Harris Technologies were worth $4,570,000 at the end of the most recent reporting period.

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

L3Harris Technologies Trading Up 0.8%

NYSE LHX traded up $2.28 during trading hours on Wednesday, hitting $274.59. 503,369 shares of the company were exchanged, compared to its average volume of 1,453,474. The stock has a 50-day moving average price of $252.73 and a 200 day moving average price of $226.63. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $280.03. The stock has a market cap of $51.38 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 2.10 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released 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 firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.24 earnings per share. Analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share 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 paid 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 dividend yield of 1.75%. L3Harris Technologies's dividend payout ratio is 53.63%.

Wall Street Analyst Weigh In

Several research firms have issued reports on LHX. Susquehanna boosted their price target on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a report on Friday, July 25th. Barclays boosted their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. UBS Group restated a "neutral" rating and issued a $280.00 price objective (up from $262.00) on shares of L3Harris Technologies in a research report on Friday, July 25th. Finally, The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price objective for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $279.47.

Insider Buying and Selling

In related news, 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 value of $490,000.00. Following the completion of the sale, the insider owned 25,325 shares in the company, valued at approximately $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $19,522,080.00. Following the completion of the sale, the chief executive officer owned 145,578 shares of the company's stock, valued at $39,472,018.92. The trade was a 33.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 107,061 shares of company stock worth $28,227,077. Insiders own 0.72% of the company's stock.

About L3Harris Technologies

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.