Skba Capital Management LLC Sells 1,700 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Skba Capital Management LLC lowered its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,903 shares of the company’s stock after selling 1,700 shares during the period. Skba Capital Management LLC’s holdings in L3Harris Technologies were worth $8,601,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new position in shares of L3Harris Technologies in the 4th quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies in the fourth quarter valued at approximately $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $30,000. Union Bancaire Privee UBP SA bought a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $33,000. Finally, New Millennium Group LLC boosted its holdings in shares of L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after buying an additional 163 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LHX has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Citigroup reduced their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Morgan Stanley dropped their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Five research 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, the company presently has an average rating of “Moderate Buy” and an average target price of $261.40.

L3Harris Technologies Trading Down 2.5 %

LHX stock opened at $207.46 on Monday. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a market capitalization of $38.94 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The company’s 50-day simple moving average is $209.34 and its 200 day simple moving average is $225.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $1.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.31%. L3Harris Technologies’s payout ratio is currently 60.99%.

Insider Activity

In other news, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.