L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Glass Wealth Management Co LLC

Glass Wealth Management Co LLC lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,455 shares of the company’s stock after selling 810 shares during the quarter. L3Harris Technologies comprises about 2.1% of Glass Wealth Management Co LLC’s holdings, making the stock its 13th biggest holding. Glass Wealth Management Co LLC’s holdings in L3Harris Technologies were worth $3,881,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LHX. Farther Finance Advisors LLC grew its holdings in shares of L3Harris Technologies by 7.3% in the third quarter. Farther Finance Advisors LLC now owns 2,646 shares of the company’s stock valued at $629,000 after purchasing an additional 179 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of L3Harris Technologies by 78.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 34,567 shares of the company’s stock valued at $8,222,000 after purchasing an additional 15,191 shares during the period. National Pension Service grew its holdings in shares of L3Harris Technologies by 16.2% in the third quarter. National Pension Service now owns 426,508 shares of the company’s stock valued at $101,453,000 after purchasing an additional 59,494 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of L3Harris Technologies by 1.2% in the third quarter. Asset Management One Co. Ltd. now owns 70,138 shares of the company’s stock valued at $16,684,000 after purchasing an additional 818 shares during the period. Finally, QRG Capital Management Inc. grew its holdings in shares of L3Harris Technologies by 19.4% in the third quarter. QRG Capital Management Inc. now owns 3,001 shares of the company’s stock valued at $714,000 after purchasing an additional 487 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Truist Financial lowered their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Morgan Stanley lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $261.47.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the sale, the insider now owns 8,576 shares of the company’s stock, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Down 0.1 %

Shares of LHX opened at $207.47 on Wednesday. The stock has a market capitalization of $39.07 billion, a PE ratio of 26.36, a P/E/G ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The company’s 50-day simple moving average is $208.82 and its 200-day simple moving average is $227.94.

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, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $1.20 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.31%. L3Harris Technologies’s dividend payout ratio (DPR) is 58.96%.

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.