L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Private Harbour Investment Management & Counsel LLC

Private Harbour Investment Management & Counsel LLC lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,796 shares of the company’s stock after selling 156 shares during the period. L3Harris Technologies accounts for approximately 1.1% of Private Harbour Investment Management & Counsel LLC’s holdings, making the stock its 27th largest holding. Private Harbour Investment Management & Counsel LLC’s holdings in L3Harris Technologies were worth $1,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Millstone Evans Group LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at about $27,000. Roxbury Financial LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter valued at about $30,000. Union Bancaire Privee UBP SA purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $33,000. Finally, New Millennium Group LLC increased its position in shares of L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after buying an additional 163 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 1.0 %

LHX stock opened at $212.80 on Wednesday. The business’s 50 day simple moving average is $209.70 and its 200 day simple moving average is $225.87. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The firm has a market capitalization of $39.95 billion, a PE ratio of 27.04, a PEG 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.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 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%. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Wall Street Analyst Weigh In

LHX has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. UBS Group boosted their target price on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company decreased their target price on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Bank of America cut their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Susquehanna dropped their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $261.40.

Insider Activity

In other news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the transaction, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,334 shares of company stock valued at $1,383,709. 0.72% of the stock is currently owned by corporate insiders.

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.