Premier Path Wealth Partners LLC Cuts Stock Position in L3Harris Technologies Inc (NYSE:LHX)

Premier Path Wealth Partners LLC lessened its position in L3Harris Technologies Inc (NYSE:LHX) by 8.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,425 shares of the company’s stock after selling 136 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in L3Harris Technologies were worth $298,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. grew its stake in L3Harris Technologies by 234.3% during 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 acquired a new position in L3Harris Technologies during the 4th quarter worth $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies during the 4th quarter worth $27,000. Beacon Capital Management LLC grew its stake in L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after purchasing an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Jefferies Financial Group lowered 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. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and boosted their target price for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Citigroup upped their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Truist Financial lowered their price objective on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $258.75.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider now directly owns 25,325 shares of the company’s stock, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the transaction, the chief executive officer now directly owns 145,572 shares of the company’s stock, valued at approximately $36,171,730.56. This trade represents a 18.51% 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.

L3Harris Technologies Stock Up 0.3%

Shares of NYSE LHX opened at $249.56 on Friday. The stock has a market cap of $46.66 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 1.98 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $265.74. The business has a 50-day moving average price of $231.54 and a 200 day moving average price of $218.63.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $3.06 EPS. Equities research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.92%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is presently 56.94%.

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.