L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. trimmed its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 23.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 174 shares of the company’s stock after selling 54 shares during the quarter. Geneos Wealth Management Inc.’s holdings in L3Harris Technologies were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of LHX. Acadian Asset Management LLC lifted its holdings in shares of L3Harris Technologies by 283.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,103 shares of the company’s stock valued at $272,000 after buying an additional 815 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of L3Harris Technologies in the 1st quarter valued at approximately $8,013,000. Sei Investments Co. lifted its holdings in shares of L3Harris Technologies by 14.2% in the 1st quarter. Sei Investments Co. now owns 62,374 shares of the company’s stock valued at $15,643,000 after buying an additional 7,773 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of L3Harris Technologies by 18.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,372 shares of the company’s stock valued at $838,000 after buying an additional 537 shares during the period. Finally, Brighton Jones LLC lifted its holdings in shares of L3Harris Technologies by 16.7% in the 1st quarter. Brighton Jones LLC now owns 1,230 shares of the company’s stock valued at $306,000 after buying an additional 176 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other L3Harris Technologies news, Director William H. Swanson acquired 1,250 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director William H. Swanson bought 1,250 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 over the last quarter. Company insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LHX shares. Citigroup raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a report on Thursday, January 11th. Raymond James lifted their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. Finally, StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $229.00.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $200.41 on Wednesday. The company has a market cap of $38.10 billion, a P/E ratio of 31.12, a P/E/G ratio of 1.88 and a beta of 0.65. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The business has a fifty day simple moving average of $210.70 and a 200-day simple moving average of $199.57.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. The business had revenue of $5.34 billion during 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 business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.27 earnings per share. Equities research analysts forecast that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $1.16 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s payout ratio is currently 72.05%.

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.