Commonwealth Equity Services LLC Decreases Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Commonwealth Equity Services LLC trimmed its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 86,666 shares of the company’s stock after selling 1,131 shares during the quarter. Commonwealth Equity Services LLC’s holdings in L3Harris Technologies were worth $18,224,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in L3Harris Technologies during the fourth quarter valued at about $398,507,000. National Pension Service lifted its stake in shares of L3Harris Technologies by 42.1% in the 4th quarter. National Pension Service now owns 606,047 shares of the company’s stock valued at $127,440,000 after acquiring an additional 179,539 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after acquiring an additional 178,407 shares during the period. Victory Capital Management Inc. grew its position in L3Harris Technologies by 132.4% during the 4th quarter. Victory Capital Management Inc. now owns 280,540 shares of the company’s stock worth $58,992,000 after acquiring an additional 159,806 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in L3Harris Technologies in the 4th quarter worth approximately $25,071,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now 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. Insiders sold a total of 8,098 shares of company stock valued at $1,760,588 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LHX shares. Truist Financial cut their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. decreased their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. Morgan Stanley reduced their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, Susquehanna dropped their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $212.93 on Tuesday. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The firm has a market capitalization of $39.97 billion, a P/E ratio of 27.06, a P/E/G ratio of 2.42 and a beta of 0.74. 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 has a fifty day simple moving average of $209.44 and a two-hundred day simple moving average of $226.84.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.25%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

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.