Primecap Management Co. CA Sells 2,900 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Primecap Management Co. CA decreased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,400 shares of the company’s stock after selling 2,900 shares during the period. Primecap Management Co. CA owned about 0.13% of L3Harris Technologies worth $52,234,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after purchasing an additional 59,008 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of L3Harris Technologies in the 4th quarter worth $398,507,000. Massachusetts Financial Services Co. MA increased its holdings in shares of L3Harris Technologies by 5.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after purchasing an additional 85,882 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of L3Harris Technologies by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock worth $254,461,000 after purchasing an additional 32,979 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity

In other news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,098 shares of company stock worth $1,760,588 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX opened at $212.46 on Wednesday. The business’s fifty day moving average is $209.62 and its 200 day moving average is $226.67. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a market capitalization of $39.88 billion, a PE ratio of 27.00, a price-to-earnings-growth 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.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.26%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s payout ratio is presently 60.99%.

Analysts Set New Price Targets

Several brokerages recently commented on LHX. Wells Fargo & Company cut their price objective on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a report on Friday, March 7th. UBS Group lifted their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Susquehanna cut their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

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.