Freemont Management S.A. Sells 35,300 Shares of L3Harris Technologies Inc $LHX

Freemont Management S.A. reduced its stake in L3Harris Technologies Inc (NYSE:LHX) by 88.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,700 shares of the company’s stock after selling 35,300 shares during the period. Freemont Management S.A.’s holdings in L3Harris Technologies were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Asset Planning Inc. acquired a new position in L3Harris Technologies during the second quarter worth $32,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of L3Harris Technologies in the 2nd quarter worth about $34,000. Salomon & Ludwin LLC acquired a new stake in shares of L3Harris Technologies during the 3rd quarter worth about $34,000. Rakuten Securities Inc. lifted its holdings in L3Harris Technologies by 234.8% during the 2nd quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock valued at $39,000 after purchasing an additional 108 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in L3Harris Technologies in the third quarter valued at about $42,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.2%

Shares of LHX opened at $339.75 on Friday. The business’s fifty day moving average price is $320.36 and its two-hundred day moving average price is $296.25. The firm has a market capitalization of $63.55 billion, a price-to-earnings ratio of 39.83, a PEG ratio of 2.45 and a beta of 0.64. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $369.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.10. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.47 earnings per share. On average, 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 declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, March 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.5%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio is presently 56.27%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LHX shares. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Truist Financial set a $364.00 price objective on L3Harris Technologies in a research report on Wednesday, January 14th. Vertical Research reissued a “buy” rating and issued a $355.00 price objective on shares of L3Harris Technologies in a research note on Tuesday, January 13th. JPMorgan Chase & Co. increased their target price on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Finally, BNP Paribas Exane upgraded L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Samir Mehta sold 4,840 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total value of $1,640,034.00. Following the transaction, the insider directly owned 5,916 shares in the company, valued at $2,004,636.60. This represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.