L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Nicholas Company Inc.

Nicholas Company Inc. cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.3% in the 4th quarter, Holdings Channel reports. The fund owned 91,414 shares of the company’s stock after selling 7,191 shares during the period. Nicholas Company Inc.’s holdings in L3Harris Technologies were worth $19,223,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Aptus Capital Advisors LLC lifted its position in shares of L3Harris Technologies by 18.0% during the third quarter. Aptus Capital Advisors LLC now owns 2,657 shares of the company’s stock worth $632,000 after purchasing an additional 405 shares during the last quarter. KBC Group NV lifted its holdings in L3Harris Technologies by 3.5% in the third quarter. KBC Group NV now owns 17,305 shares of the company’s stock worth $4,116,000 after acquiring an additional 585 shares during the last quarter. Zions Bancorporation N.A. raised its holdings in shares of L3Harris Technologies by 21.7% during the third quarter. Zions Bancorporation N.A. now owns 2,152 shares of the company’s stock valued at $512,000 after buying an additional 384 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of L3Harris Technologies by 1.5% during the third quarter. Metis Global Partners LLC now owns 6,061 shares of the company’s stock valued at $1,442,000 after buying an additional 91 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its holdings in shares of 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 buying an additional 40 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of LHX opened at $211.42 on Friday. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The firm has a fifty day simple moving average of $209.26 and a 200 day simple moving average of $227.02. The stock has a market capitalization of $39.69 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.42 and a beta of 0.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating 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%. Research analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend 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 dividend payout ratio (DPR) is currently 60.99%.

Insider Transactions at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the transaction, the insider now directly owns 6,812 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 9,862 shares of company stock worth $2,155,054. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of recent analyst reports. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Truist Financial lowered their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Morgan Stanley decreased their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Bank of America decreased their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

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.