Bartlett & CO. Wealth Management LLC Sells 241 Shares of L3Harris Technologies Inc (NYSE:LHX)

Bartlett & CO. Wealth Management LLC lessened its position in L3Harris Technologies Inc (NYSE:LHX) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,088 shares of the company’s stock after selling 241 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,693,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its holdings in L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after acquiring an additional 82 shares during the last quarter. Millstone Evans Group LLC bought a new stake in L3Harris Technologies in the 4th quarter worth $26,000. Beacon Capital Management LLC grew its holdings in L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after acquiring an additional 111 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new stake in L3Harris Technologies in the 4th quarter worth $37,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.3%

Shares of NYSE LHX opened at $247.52 on Friday. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $265.74. The stock has a market cap of $46.27 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 1.97 and a beta of 0.74. The firm has a 50-day moving average of $234.39 and a 200 day moving average of $219.10. 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 (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the company posted $3.06 EPS. L3Harris Technologies’s revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.94%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 56.94%.

Analyst Ratings Changes

LHX has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and raised their price target for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Wells Fargo & Company cut 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 note on Tuesday, April 8th. Truist Financial cut their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. UBS Group lifted their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Finally, Citigroup lifted their target price on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $258.75.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value 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. The trade was a 7.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the completion of the transaction, the chief executive officer now directly owns 145,572 shares of the company’s stock, valued at $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 currently owned by corporate 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.