L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Founders Financial Alliance LLC

Founders Financial Alliance LLC cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 23.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,111 shares of the company’s stock after selling 334 shares during the period. Founders Financial Alliance LLC’s holdings in L3Harris Technologies were worth $234,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of LHX. NBC Securities Inc. acquired a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $73,000. Ieq Capital LLC boosted its stake in L3Harris Technologies by 25.8% during the 3rd quarter. Ieq Capital LLC now owns 7,276 shares of the company’s stock valued at $1,267,000 after purchasing an additional 1,492 shares during the period. Victory Capital Management Inc. boosted its stake in L3Harris Technologies by 13.0% during the 3rd quarter. Victory Capital Management Inc. now owns 75,873 shares of the company’s stock valued at $13,211,000 after purchasing an additional 8,751 shares during the period. Buck Wealth Strategies LLC boosted its stake in L3Harris Technologies by 2,166.7% during the 3rd quarter. Buck Wealth Strategies LLC now owns 272 shares of the company’s stock valued at $47,000 after purchasing an additional 260 shares during the period. Finally, XML Financial LLC boosted its stake in L3Harris Technologies by 104.6% during the 3rd quarter. XML Financial LLC now owns 9,564 shares of the company’s stock valued at $1,665,000 after purchasing an additional 4,890 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director William H. Swanson purchased 1,250 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were acquired 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 directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director William H. Swanson purchased 1,250 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were acquired 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 directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Scott T. Mikuen sold 1,292 shares of the business’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 transaction of $272,792.88. Following the sale, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. Insiders have sold 73,362 shares of company stock worth $15,889,110 over the last 90 days. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LHX has been the subject of a number of analyst reports. Citigroup boosted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Wells Fargo & Company boosted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Barclays boosted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. UBS Group boosted their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.80.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded up $0.14 during midday trading on Friday, reaching $223.25. The company’s stock had a trading volume of 426,847 shares, compared to its average volume of 890,691. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average price of $212.47 and a 200 day moving average price of $207.22. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $225.90. The company has a market cap of $42.35 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 1.87 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the previous year, the firm earned $2.86 EPS. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 12.92 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. The ex-dividend date is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.08%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

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.