HBK Sorce Advisory LLC Sells 210 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

HBK Sorce Advisory LLC cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,099 shares of the company’s stock after selling 210 shares during the period. HBK Sorce Advisory LLC’s holdings in L3Harris Technologies were worth $442,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kentucky Retirement Systems bought a new stake in L3Harris Technologies during the 3rd quarter valued at $2,642,000. GDS Wealth Management raised its position in shares of L3Harris Technologies by 184.5% in the 3rd quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock worth $15,692,000 after acquiring an additional 58,441 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth $46,000. Ceredex Value Advisors LLC raised its position in shares of L3Harris Technologies by 14.1% in the 3rd quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock worth $117,315,000 after acquiring an additional 83,319 shares in the last quarter. Finally, Strong Tower Advisory Services raised its position in shares of L3Harris Technologies by 2.8% in the 3rd quarter. Strong Tower Advisory Services now owns 5,314 shares of the company’s stock worth $925,000 after acquiring an additional 147 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on LHX. Truist Financial boosted their price target on L3Harris Technologies from $224.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Raymond James boosted their price target on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Royal Bank of Canada boosted their price target on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Deutsche Bank Aktiengesellschaft raised L3Harris Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $184.00 to $240.00 in a research report on Friday, December 15th. Finally, JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price on the stock in a research note on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $229.00.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the sale, the senior vice president now owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 over the last quarter. 0.87% of the stock is currently owned by insiders.

L3Harris Technologies Stock Down 0.3 %

L3Harris Technologies stock opened at $205.49 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. The business’s 50-day simple moving average is $211.15 and its two-hundred day simple moving average is $198.60. The company has a market cap of $39.07 billion, a PE ratio of 31.91, a PEG ratio of 1.94 and a beta of 0.65. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $218.34.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.04. The business had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.27 EPS. Equities analysts anticipate that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $1.16 per share. The ex-dividend date was Thursday, March 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s dividend payout ratio is presently 72.05%.

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.