Nicollet Investment Management Inc. Sells 63 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Nicollet Investment Management Inc. lessened its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,612 shares of the company’s stock after selling 63 shares during the period. Nicollet Investment Management Inc.’s holdings in L3Harris Technologies were worth $1,390,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after purchasing an additional 82 shares in the last quarter. Millstone Evans Group LLC purchased a new position in L3Harris Technologies in the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies in the fourth quarter worth about $27,000. Roxbury Financial LLC purchased a new position in L3Harris Technologies in the fourth quarter worth about $30,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the company’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 transaction, the insider now 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. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

NYSE LHX opened at $209.35 on Tuesday. The business’s fifty day moving average is $209.16 and its 200 day moving average is $225.37. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. 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 company has a market capitalization of $39.30 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.29%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 60.99%.

Analyst Ratings Changes

Several research firms recently issued reports on LHX. JPMorgan Chase & Co. lowered their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company lowered their price target on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Citigroup reduced their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Barclays lowered their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $260.69.

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.