B. Riley Wealth Advisors Inc. Decreases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

B. Riley Wealth Advisors Inc. trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,656 shares of the company’s stock after selling 161 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in L3Harris Technologies were worth $1,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. BankPlus Wealth Management LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $409,000. Empowered Funds LLC raised its holdings in L3Harris Technologies by 24.3% during the 4th quarter. Empowered Funds LLC now owns 19,735 shares of the company’s stock valued at $4,150,000 after buying an additional 3,852 shares during the period. Van ECK Associates Corp raised its holdings in L3Harris Technologies by 1,015.9% during the 4th quarter. Van ECK Associates Corp now owns 13,224 shares of the company’s stock valued at $2,781,000 after buying an additional 12,039 shares during the period. GDS Wealth Management raised its holdings in L3Harris Technologies by 3.8% during the 4th quarter. GDS Wealth Management now owns 79,585 shares of the company’s stock valued at $16,735,000 after buying an additional 2,884 shares during the period. Finally, Adell Harriman & Carpenter Inc. raised its holdings in L3Harris Technologies by 131.7% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 7,755 shares of the company’s stock valued at $1,631,000 after buying an additional 4,408 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

LHX opened at $237.81 on Tuesday. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $217.48 and its 200-day simple moving average is $218.40. The company has a market capitalization of $44.46 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) 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 business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the prior year, the company earned $3.06 EPS. The business’s revenue was down 1.5% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. 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 payout ratio is 56.94%.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents 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 through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $632,122. The trade was a 53.19% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on LHX. Truist Financial decreased their price target on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Citigroup decreased their price target on L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. UBS Group increased 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. Jefferies Financial Group decreased their price target on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and increased their price target for the company from $198.00 to $263.00 in a report on Friday, April 11th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.