Stonebrook Private Inc. Sells 235 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Stonebrook Private Inc. lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 6.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,150 shares of the company’s stock after selling 235 shares during the quarter. Stonebrook Private Inc.’s holdings in L3Harris Technologies were worth $662,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after buying an additional 401,168 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of L3Harris Technologies by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock worth $1,004,418,000 after buying an additional 53,787 shares in the last quarter. FMR LLC raised its holdings in shares of L3Harris Technologies by 11.5% in the 4th quarter. FMR LLC now owns 2,261,999 shares of the company’s stock worth $475,653,000 after buying an additional 233,968 shares in the last quarter. Invesco Ltd. raised its holdings in shares of L3Harris Technologies by 30.5% in the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock worth $469,992,000 after buying an additional 522,861 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $398,507,000. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies 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 completion of the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. The trade was a 5.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The stock was 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 trade represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

L3Harris Technologies Stock Up 1.6%

NYSE LHX opened at $230.42 on Friday. The stock has a fifty day moving average of $214.69 and a 200-day moving average of $219.35. The stock has a market capitalization of $43.08 billion, a P/E ratio of 29.28, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 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.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $3.06 EPS. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.08%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. UBS Group raised their price target on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Wells Fargo & Company dropped their price target on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Bank of America dropped their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $256.56.

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.