Yacktman Asset Management LP Trims Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Yacktman Asset Management LP trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 647,983 shares of the company’s stock after selling 3,435 shares during the period. Yacktman Asset Management LP owned 0.34% of L3Harris Technologies worth $145,524,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Bfsg LLC purchased a new stake in L3Harris Technologies in the first quarter worth about $25,000. Transcendent Capital Group LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $28,000. EntryPoint Capital LLC lifted its stake in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after purchasing an additional 69 shares during the period. Versant Capital Management Inc boosted its position in shares of L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares in the last quarter. Finally, Family Firm Inc. purchased a new stake in L3Harris Technologies in the second quarter worth $45,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX traded down $5.55 during mid-day trading on Thursday, reaching $230.95. The stock had a trading volume of 237,599 shares, compared to its average volume of 956,930. The business has a fifty day moving average of $230.36 and a 200 day moving average of $220.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The firm has a market cap of $43.81 billion, a price-to-earnings ratio of 38.39, a PEG ratio of 1.96 and a beta of 0.73. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $245.60.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the previous year, the company earned $2.97 EPS. L3Harris Technologies’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LHX. Barclays raised their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Susquehanna lifted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their target price for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $247.08.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the transaction, the vice president now owns 14,186 shares in the company, valued at $3,074,531.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,122 shares of company stock worth $7,612,739. Company insiders own 0.82% of the company’s stock.

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.