L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. reduced its position in L3Harris Technologies, Inc. (NYSE:LHX) by 7.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,485 shares of the company’s stock after selling 370 shares during the quarter. Sunbelt Securities Inc.’s holdings in L3Harris Technologies were worth $937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. BankPlus Wealth Management LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter worth about $409,000. Empowered Funds LLC raised its holdings in L3Harris Technologies by 24.3% in the 4th quarter. Empowered Funds LLC now owns 19,735 shares of the company’s stock worth $4,150,000 after purchasing an additional 3,852 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in L3Harris Technologies by 51.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,320 shares of the company’s stock worth $3,011,000 after purchasing an additional 4,890 shares during the period. Private Capital Advisors Inc. boosted its position in L3Harris Technologies by 82.6% during the fourth quarter. Private Capital Advisors Inc. now owns 7,120 shares of the company’s stock worth $1,497,000 after purchasing an additional 3,220 shares in the last quarter. Finally, Novare Capital Management LLC grew its holdings in L3Harris Technologies by 6.2% in the fourth quarter. Novare Capital Management LLC now owns 45,934 shares of the company’s stock valued at $9,659,000 after purchasing an additional 2,688 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LHX. Jefferies Financial Group reduced their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Truist Financial reduced their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Citigroup reduced their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Bank of America lowered their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $256.56.

L3Harris Technologies Price Performance

LHX stock opened at $237.81 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 debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a market capitalization of $44.46 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The business has a 50 day simple moving average of $216.98 and a 200-day simple moving average of $219.07.

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

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is currently 56.94%.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 2,797 shares in the company, valued at approximately $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 accessible through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was 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 $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. 0.72% of the stock is owned by company insiders.

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.