Alaethes Wealth LLC Sells 151 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Alaethes Wealth LLC cut its position in L3Harris Technologies, Inc. (NYSE:LHX) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,198 shares of the company’s stock after selling 151 shares during the period. Alaethes Wealth LLC’s holdings in L3Harris Technologies were worth $1,303,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its stake in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after acquiring an additional 82 shares during the period. Millstone Evans Group LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies in the 4th quarter valued at $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies during the 4th quarter valued at $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after buying an additional 111 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $219.72 on Friday. The company has a market capitalization of $41.24 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The company’s 50-day moving average is $212.69 and its 200 day moving average is $221.39. 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, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its earnings results 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. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the prior year, the firm earned $3.06 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.18%. L3Harris Technologies’s payout ratio is presently 56.94%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. UBS Group boosted their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Citigroup cut their target price on L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Jefferies Financial Group lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $256.56.

Insider Activity

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The stock was 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 represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value 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. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

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.