Kendall Capital Management Reduces Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Kendall Capital Management decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,485 shares of the company’s stock after selling 225 shares during the period. Kendall Capital Management’s holdings in L3Harris Technologies were worth $312,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $27,000. Roxbury Financial LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $30,000. Archer Investment Corp boosted its position in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $33,000. Finally, Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the sale, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 4,901 shares of company stock valued at $1,059,757 over the last 90 days. Insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Barclays reduced their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Susquehanna reduced their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, UBS Group increased their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

L3Harris Technologies Stock Performance

Shares of LHX opened at $220.47 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a market cap of $41.52 billion, a P/E ratio of 28.01, a PEG ratio of 2.42 and a beta of 0.74. The company has a 50-day moving average of $208.94 and a two-hundred day moving average of $227.63. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (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%. As a group, research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is currently 60.99%.

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.