American Century Companies Inc. Cuts Stake in L3Harris Technologies Inc $LHX

American Century Companies Inc. lessened its stake in L3Harris Technologies Inc (NYSE:LHX) by 26.6% during the third quarter, HoldingsChannel reports. The firm owned 540,616 shares of the company’s stock after selling 195,610 shares during the period. American Century Companies Inc.’s holdings in L3Harris Technologies were worth $165,110,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Twin Lakes Capital Management LLC grew its holdings in L3Harris Technologies by 0.3% during the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock valued at $4,380,000 after buying an additional 38 shares in the last quarter. Fidelis Capital Partners LLC increased its stake in L3Harris Technologies by 2.2% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after purchasing an additional 39 shares during the period. Patrick M Sweeney & Associates Inc. increased its holdings in L3Harris Technologies by 3.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock valued at $280,000 after purchasing an additional 40 shares during the period. Moment Partners LLC raised its holdings in L3Harris Technologies by 1.6% in the 3rd quarter. Moment Partners LLC now owns 2,501 shares of the company’s stock worth $764,000 after purchasing an additional 40 shares in the last quarter. Finally, Catalyst Financial Partners LLC lifted its stake in shares of L3Harris Technologies by 2.6% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,602 shares of the company’s stock valued at $489,000 after purchasing an additional 40 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In related news, insider Samir Mehta sold 4,840 shares of the business’s stock in a transaction 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 completion of the sale, the insider owned 5,916 shares of the company’s stock, valued at approximately $2,004,636.60. The trade was a 45.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $364.50 on Monday. L3Harris Technologies Inc has a 1-year low of $195.72 and a 1-year high of $369.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. The firm has a market capitalization of $68.08 billion, a PE ratio of 42.73, a price-to-earnings-growth ratio of 2.63 and a beta of 0.63. The company’s fifty day moving average price is $335.43 and its 200-day moving average price is $302.66.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.76 by $0.10. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.47 EPS. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced 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. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. L3Harris Technologies’s payout ratio is 56.27%.

Analyst Upgrades and Downgrades

Several research firms have commented on LHX. Wolfe Research reissued an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. BNP Paribas Exane upgraded L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Royal Bank Of Canada upped their price objective on L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. TD Cowen restated a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Finally, UBS Group upped their target price on shares of L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies Company 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.