Channing Capital Management LLC Trims Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Channing Capital Management LLC lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 16.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,582 shares of the company's stock after selling 5,440 shares during the quarter. Channing Capital Management LLC's holdings in L3Harris Technologies were worth $6,020,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. FourThought Financial Partners LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at $214,000. TCG Advisory Services LLC purchased a new position in L3Harris Technologies during the 4th quarter worth $268,000. First National Trust Co boosted its holdings in L3Harris Technologies by 6.1% during the 4th quarter. First National Trust Co now owns 4,837 shares of the company's stock worth $1,019,000 after acquiring an additional 276 shares during the last quarter. Sapient Capital LLC purchased a new position in L3Harris Technologies during the 4th quarter worth $1,198,000. Finally, Axxcess Wealth Management LLC purchased a new position in L3Harris Technologies during the 4th quarter worth $661,000. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded up $2.51 during midday trading on Monday, hitting $214.75. 789,099 shares of the company's stock were exchanged, compared to its average volume of 1,118,148. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $218.34. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The company has a market cap of $40.73 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 1.88 and a beta of 0.63. The business's fifty day moving average price is $210.24 and its two-hundred day moving average price is $203.13.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same quarter in the previous year, the firm earned $2.86 earnings per share. L3Harris Technologies's revenue was up 16.6% on a year-over-year basis. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 12.91 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies's dividend payout ratio is currently 75.32%.

Analysts Set New Price Targets

A number of research firms have issued reports on LHX. StockNews.com downgraded shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a report on Monday, January 29th. JPMorgan Chase & Co. boosted their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, May 1st. Raymond James boosted their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an "outperform" rating in a report on Monday, January 29th. UBS Group boosted their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a "neutral" rating in a report on Monday, January 29th. Finally, Barclays boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an "overweight" rating in a report on Tuesday, April 30th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $231.33.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the sale, the insider now owns 28,644 shares of the company's stock, valued at $6,057,346.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director William H. Swanson acquired 1,250 shares of the stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now owns 1,543 shares of the company's stock, valued at approximately $332,285.05. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the sale, the insider now owns 28,644 shares of the company's stock, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 over the last quarter. 0.87% of the stock is owned by corporate 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.