Janus Henderson Group PLC Lowers Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Janus Henderson Group PLC decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 31.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,172,438 shares of the company’s stock after selling 533,828 shares during the period. Janus Henderson Group PLC’s holdings in L3Harris Technologies were worth $246,539,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Jefferies Financial Group Inc. purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $232,000. Gotham Asset Management LLC boosted its holdings in shares of L3Harris Technologies by 2,501.7% in the fourth quarter. Gotham Asset Management LLC now owns 52,763 shares of the company’s stock valued at $11,095,000 after purchasing an additional 50,735 shares during the period. Graham Capital Management L.P. purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $1,947,000. Focus Partners Wealth boosted its holdings in shares of L3Harris Technologies by 5.3% in the fourth quarter. Focus Partners Wealth now owns 67,176 shares of the company’s stock valued at $14,266,000 after purchasing an additional 3,375 shares during the period. Finally, Eisler Capital Management Ltd. purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $9,788,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This represents a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50% 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.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $219.15 on Monday. The business’s fifty day simple moving average is $213.93 and its 200-day simple moving average is $220.02. The company has a market cap of $40.97 billion, a PE ratio of 27.85, a PEG ratio of 2.42 and a beta of 0.72. 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, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.06 earnings per share. Analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LHX shares. UBS Group boosted their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Morgan Stanley reduced their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Citigroup reduced their price objective on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced 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 note on Friday, January 31st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $256.56.

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.