Associated Banc Corp Reduces Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Associated Banc Corp lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,572 shares of the company’s stock after selling 207 shares during the period. Associated Banc Corp’s holdings in L3Harris Technologies were worth $541,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. First National Trust Co raised its stake in shares of L3Harris Technologies by 5.0% during the fourth quarter. First National Trust Co now owns 28,426 shares of the company’s stock valued at $5,977,000 after purchasing an additional 1,342 shares during the period. Carret Asset Management LLC raised its stake in shares of L3Harris Technologies by 3.0% during the fourth quarter. Carret Asset Management LLC now owns 18,708 shares of the company’s stock valued at $3,934,000 after purchasing an additional 540 shares during the period. Wellington Shields Capital Management LLC raised its stake in shares of L3Harris Technologies by 4.0% during the fourth quarter. Wellington Shields Capital Management LLC now owns 10,155 shares of the company’s stock valued at $2,135,000 after purchasing an additional 386 shares during the period. Atala Financial Inc purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $376,000. Finally, Impact Capital Partners LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $270,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $211.42 on Friday. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a market cap of $39.69 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a fifty day moving average of $209.26 and a 200-day moving average of $227.02.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities 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 will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $1.20 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s payout ratio is currently 60.99%.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was 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 owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,862 shares of company stock worth $2,155,054 over the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LHX has been the subject of a number of recent analyst reports. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Morgan Stanley decreased their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Finally, Bank of America decreased their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

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.