B. Riley Wealth Advisors Inc. Sells 4,442 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

B. Riley Wealth Advisors Inc. lessened its position in L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 32.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,424 shares of the company’s stock after selling 4,442 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in L3Harris Technologies were worth $1,959,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Eagle Bay Advisors LLC bought a new stake in shares of L3Harris Technologies in the 2nd quarter worth about $30,000. Wagner Wealth Management LLC bought a new stake in L3Harris Technologies during the 2nd quarter valued at about $32,000. Trustcore Financial Services LLC lifted its holdings in L3Harris Technologies by 106.2% during the 3rd quarter. Trustcore Financial Services LLC now owns 167 shares of the company’s stock valued at $35,000 after buying an additional 86 shares in the last quarter. Ronald Blue Trust Inc. bought a new stake in L3Harris Technologies during the 2nd quarter valued at about $43,000. Finally, Old North State Trust LLC bought a new stake in L3Harris Technologies during the 3rd quarter valued at about $38,000. Institutional investors own 82.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LHX shares. Cowen decreased their price objective on shares of L3Harris Technologies from $260.00 to $240.00 and set an “outperform” rating for the company in a report on Thursday, January 12th. Susquehanna lifted their price objective on shares of L3Harris Technologies from $265.00 to $270.00 and gave the company a “positive” rating in a report on Monday, January 30th. Morgan Stanley cut their target price on shares of L3Harris Technologies from $278.00 to $264.00 and set an “overweight” rating on the stock in a research report on Monday, January 30th. Robert W. Baird downgraded shares of L3Harris Technologies from an “outperform” rating to a “neutral” rating and cut their target price for the company from $290.00 to $241.00 in a research report on Monday, December 19th. Finally, TheStreet downgraded shares of L3Harris Technologies from a “b-” rating to a “c+” rating in a research report on Tuesday, November 22nd. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $259.46.

L3Harris Technologies Stock Down 3.5 %

Shares of L3Harris Technologies stock opened at $195.25 on Friday. The firm’s 50 day moving average price is $206.37 and its 200-day moving average price is $218.15. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 0.33. L3Harris Technologies, Inc. has a 52-week low of $189.73 and a 52-week high of $264.71. The company has a market cap of $37.09 billion, a P/E ratio of 35.69, a PEG ratio of 6.37 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX – Get Rating) last issued its quarterly earnings data on Friday, January 27th. The company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.21 by $0.06. L3Harris Technologies had a net margin of 6.22% and a return on equity of 13.20%. The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the firm earned $3.30 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 12.32 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, March 9th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.12. L3Harris Technologies’s payout ratio is currently 83.36%.

L3Harris Technologies Company Profile

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L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.