L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 12.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,788 shares of the company’s stock after selling 396 shares during the period. Berkshire Asset Management LLC PA’s holdings in L3Harris Technologies were worth $610,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. OneDigital Investment Advisors LLC grew its stake in L3Harris Technologies by 0.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after buying an additional 40 shares during the last quarter. Archer Investment Corp grew its position in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of L3Harris Technologies by 1.9% in the 3rd quarter. Sigma Planning Corp now owns 2,613 shares of the company’s stock worth $622,000 after acquiring an additional 49 shares during the period. Measured Wealth Private Client Group LLC lifted its position in L3Harris Technologies by 5.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock valued at $200,000 after purchasing an additional 50 shares during the last quarter. Finally, Avestar Capital LLC boosted its stake in L3Harris Technologies by 4.2% during the 3rd quarter. Avestar Capital LLC now owns 1,255 shares of the company’s stock valued at $299,000 after purchasing an additional 51 shares during the period. 84.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the transaction, the insider now directly owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 4,901 shares of company stock worth $1,059,757. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Trading Up 3.1 %

Shares of NYSE:LHX opened at $220.47 on Friday. 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 stock has a market capitalization of $41.52 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a 50 day moving average price of $208.94 and a 200 day moving average price of $227.66.

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

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.18%. The ex-dividend date is Monday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is presently 60.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LHX shares. Bank of America cut their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Susquehanna reduced their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Barclays decreased their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research note on Friday. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $261.40.

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.