Diamond Hill Capital Management Inc. Sells 32,668 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Diamond Hill Capital Management Inc. decreased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,456,620 shares of the company’s stock after selling 32,668 shares during the quarter. Diamond Hill Capital Management Inc. owned 0.77% of L3Harris Technologies worth $306,298,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC increased its stake in L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after acquiring an additional 40 shares during the period. Archer Investment Corp increased its position in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the period. Sigma Planning Corp increased its position in shares of L3Harris Technologies by 1.9% during the third quarter. Sigma Planning Corp now owns 2,613 shares of the company’s stock valued at $622,000 after purchasing an additional 49 shares during the period. Measured Wealth Private Client Group LLC raised its stake in shares of L3Harris Technologies by 5.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock valued at $200,000 after purchasing an additional 50 shares in the last quarter. Finally, Avestar Capital LLC lifted its position in L3Harris Technologies by 4.2% in the third quarter. Avestar Capital LLC now owns 1,255 shares of the company’s stock worth $299,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $211.04 on Friday. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The stock has a market capitalization of $39.74 billion, a PE ratio of 26.82, a PEG ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock’s fifty day moving average is $209.23 and its 200-day moving average is $227.17.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.27%. The ex-dividend date is Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is 60.99%.

Wall Street Analysts Forecast Growth

LHX has been the topic of several analyst reports. Truist Financial lowered their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Susquehanna dropped their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company cut their target price on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $261.40.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the sale, the insider now directly owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,862 shares of company stock worth $2,155,054 in the last quarter. Insiders own 0.82% of the company’s stock.

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.