Yacktman Asset Management LP Sells 50,802 Shares of L3Harris Technologies Inc (NYSE:LHX)

Yacktman Asset Management LP cut its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 8.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 550,506 shares of the company's stock after selling 50,802 shares during the period. L3Harris Technologies accounts for about 1.5% of Yacktman Asset Management LP's portfolio, making the stock its 26th largest holding. Yacktman Asset Management LP owned approximately 0.29% of L3Harris Technologies worth $115,226,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its stake in L3Harris Technologies by 5.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock valued at $926,000 after buying an additional 216 shares in the last quarter. BankPlus Wealth Management LLC lifted its position in shares of L3Harris Technologies by 6.0% during the 1st quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company's stock valued at $432,000 after acquiring an additional 117 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of L3Harris Technologies by 21.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock valued at $1,488,000 after acquiring an additional 1,236 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $25,071,000. Finally, Brighton Jones LLC raised its holdings in L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after acquiring an additional 3,001 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 0.8%

NYSE:LHX traded up $2.01 during mid-day trading on Wednesday, hitting $259.10. 934,388 shares of the company's stock were exchanged, compared to its average volume of 1,153,559. The company has a 50 day simple moving average of $239.72 and a 200-day simple moving average of $220.83. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm has a market capitalization of $48.44 billion, a P/E ratio of 30.74, a PEG ratio of 2.05 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the company earned $3.06 EPS. L3Harris Technologies's quarterly revenue was down 1.5% compared to the same quarter last year. As a group, research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.85%. L3Harris Technologies's payout ratio is 56.94%.

Insider Activity

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the completion of the transaction, the chief executive officer owned 145,572 shares in the company, valued at $36,171,730.56. This trade represents a 18.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was 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 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. Corporate insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LHX. UBS Group upped their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Truist Financial decreased their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and raised their price target for the company from $198.00 to $263.00 in a report on Friday, April 11th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $258.75.

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.