American International Group Inc. Decreases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

American International Group Inc. decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,144 shares of the company’s stock after selling 986 shares during the period. American International Group Inc.’s holdings in L3Harris Technologies were worth $10,140,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. KB Financial Partners LLC raised its stake in L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares during the last quarter. Washington Trust Advisors Inc. raised its position in shares of L3Harris Technologies by 80.6% during the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after buying an additional 79 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in L3Harris Technologies in the fourth quarter worth about $46,000. Finally, Sachetta LLC bought a new stake in L3Harris Technologies during the fourth quarter worth approximately $49,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Up 1.5 %

Shares of L3Harris Technologies stock opened at $220.79 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The stock has a market cap of $41.88 billion, a price-to-earnings ratio of 35.84, a PEG ratio of 1.83 and a beta of 0.71. The firm’s 50-day moving average is $215.96 and its two-hundred day moving average is $211.27. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $226.99.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm earned $2.86 earnings per share. As a group, research analysts expect that L3Harris Technologies, Inc. will post 12.89 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s payout ratio is currently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 26,190 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The disclosure for this sale can be found here. Insiders have sold 116,190 shares of company stock worth $25,588,883 over the last quarter. Insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on LHX. Wells Fargo & Company raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. lifted their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Royal Bank of Canada raised their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a report on Monday, April 22nd. Finally, Barclays raised their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $231.80.

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.