L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Ellerson Group Inc. ADV

Ellerson Group Inc. ADV trimmed its position in L3Harris Technologies, Inc. (NYSE:LHX) by 2.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,966 shares of the company’s stock after selling 190 shares during the period. L3Harris Technologies accounts for about 1.6% of Ellerson Group Inc. ADV’s investment portfolio, making the stock its 26th biggest holding. Ellerson Group Inc. ADV’s holdings in L3Harris Technologies were worth $1,888,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FourThought Financial Partners LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $214,000. TCG Advisory Services LLC bought a new position in shares of L3Harris Technologies during the 4th quarter worth about $268,000. First National Trust Co raised its stake in shares of L3Harris Technologies by 6.1% in the fourth quarter. First National Trust Co now owns 4,837 shares of the company’s stock valued at $1,019,000 after purchasing an additional 276 shares in the last quarter. Sapient Capital LLC bought a new position in shares of L3Harris Technologies during the 4th quarter worth about $1,198,000. Finally, Axxcess Wealth Management LLC acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $661,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

LHX stock traded up $0.90 during midday trading on Friday, hitting $212.24. 790,904 shares of the company traded hands, compared to its average volume of 1,043,142. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The business has a 50 day simple moving average of $210.18 and a 200-day simple moving average of $202.54. The stock has a market capitalization of $40.26 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter in the previous year, the business posted $2.86 EPS. L3Harris Technologies’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities research analysts predict that L3Harris Technologies, Inc. will post 12.87 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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. This represents a $4.64 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Insider Buying and Selling

In other news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now directly 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 can be accessed through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction dated 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 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 have sold a total of 48,362 shares of company stock valued at $10,261,360 over the last ninety days. 0.82% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LHX. Raymond James lifted their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research report on Monday, April 22nd. Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Finally, Barclays lifted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $231.33.

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.