Private Harbour Investment Management & Counsel LLC Sells 156 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Private Harbour Investment Management & Counsel LLC reduced its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,796 shares of the company’s stock after selling 156 shares during the quarter. L3Harris Technologies comprises about 1.1% of Private Harbour Investment Management & Counsel LLC’s portfolio, making the stock its 27th biggest position. Private Harbour Investment Management & Counsel LLC’s holdings in L3Harris Technologies were worth $1,009,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LHX. Raymond James Financial Inc. acquired a new stake in L3Harris Technologies in the 4th quarter valued at $398,507,000. Vanguard Group Inc. lifted its stake in shares of L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after buying an additional 401,168 shares in the last quarter. Boston Partners grew its holdings in shares of L3Harris Technologies by 20.2% during the fourth quarter. Boston Partners now owns 1,178,741 shares of the company’s stock valued at $247,893,000 after buying an additional 198,243 shares during the last quarter. National Pension Service increased its position in shares of L3Harris Technologies by 42.1% during the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock worth $127,440,000 after acquiring an additional 179,539 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after acquiring an additional 178,407 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,334 shares of company stock worth $1,383,709. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $212.80 on Wednesday. The stock has a 50-day moving average price of $209.70 and a 200 day moving average price of $225.87. The stock has a market capitalization of $39.95 billion, a P/E ratio of 27.04, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. 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 posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share 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%. Equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.26%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Analyst Upgrades and Downgrades

LHX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Bank of America lowered their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. JPMorgan Chase & Co. dropped their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Susquehanna reduced their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $261.40.

About L3Harris Technologies

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.