Petros Family Wealth LLC Sells 147 Shares of L3Harris Technologies Inc (NYSE:LHX)

Petros Family Wealth LLC lowered its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 4.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,483 shares of the company’s stock after selling 147 shares during the quarter. Petros Family Wealth LLC’s holdings in L3Harris Technologies were worth $729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. LaFleur & Godfrey LLC boosted its holdings in L3Harris Technologies by 58.3% in the fourth quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company’s stock worth $5,635,000 after acquiring an additional 9,873 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after purchasing an additional 3,001 shares during the period. Principal Securities Inc. lifted its holdings in shares of L3Harris Technologies by 6.7% during the fourth quarter. Principal Securities Inc. now owns 882 shares of the company’s stock worth $185,000 after purchasing an additional 55 shares during the period. Sigma Planning Corp lifted its holdings in shares of L3Harris Technologies by 2.2% during the fourth quarter. Sigma Planning Corp now owns 2,671 shares of the company’s stock worth $562,000 after purchasing an additional 58 shares during the period. Finally, Olympiad Research LP acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth about $237,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LHX. The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. UBS Group boosted their price target on L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Jefferies Financial Group dropped 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. Truist Financial lowered their price objective on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, Citigroup boosted their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $258.75.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $251.31 on Tuesday. The stock’s 50-day moving average is $232.12 and its two-hundred day moving average is $218.46. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a market cap of $46.98 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The company 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 business earned $3.06 EPS. L3Harris Technologies’s revenue was down 1.5% on a year-over-year basis. Analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.91%. L3Harris Technologies’s payout ratio is currently 56.94%.

Insider Activity

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