Systematic Financial Management LP Has $4.75 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Systematic Financial Management LP reduced its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 21,130 shares of the company’s stock after selling 170 shares during the quarter. Systematic Financial Management LP’s holdings in L3Harris Technologies were worth $4,745,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LHX. Capital World Investors increased its position in L3Harris Technologies by 26.0% in the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after purchasing an additional 3,308,506 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of L3Harris Technologies by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after acquiring an additional 2,692,771 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of L3Harris Technologies during the 2nd quarter worth about $210,886,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 236.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after acquiring an additional 695,582 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and increased their target price for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Wells Fargo & Company decreased their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Barclays increased their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.08.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the sale, the senior vice president now directly owns 47,616 shares in the company, valued at $11,189,760. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now owns 16,316 shares in the company, valued at $3,861,670.88. The disclosure for this sale can be found here. Insiders sold a total of 29,402 shares of company stock worth $6,861,855 over the last 90 days. 0.82% of the stock is owned by insiders.

L3Harris Technologies Trading Up 1.5 %

LHX stock opened at $234.99 on Monday. The business has a fifty day moving average price of $231.09 and a 200 day moving average price of $222.58. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60. The stock has a market capitalization of $44.57 billion, a price-to-earnings ratio of 38.15, a P/E/G ratio of 2.04 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly 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 return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period last year, the firm posted $2.97 EPS. The business’s revenue was up 12.9% on a year-over-year basis. Analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $1.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a yield of 1.97%. L3Harris Technologies’s payout ratio is 75.32%.

L3Harris Technologies 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.