L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC cut its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,735 shares of the company’s stock after selling 419 shares during the period. Welch & Forbes LLC’s holdings in L3Harris Technologies were worth $25,219,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Morgan Stanley boosted its stake in shares of L3Harris Technologies by 1.9% in the 3rd quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock valued at $436,684,000 after buying an additional 47,691 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in L3Harris Technologies by 4.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock valued at $430,049,000 after acquiring an additional 82,423 shares in the last quarter. Northern Trust Corp lifted its stake in L3Harris Technologies by 4.6% in the third quarter. Northern Trust Corp now owns 1,570,639 shares of the company’s stock worth $273,480,000 after acquiring an additional 68,545 shares during the last quarter. Invesco Ltd. lifted its stake in L3Harris Technologies by 15.3% in the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock worth $254,187,000 after acquiring an additional 193,690 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in L3Harris Technologies by 22.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after acquiring an additional 266,468 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. UBS Group boosted their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, Raymond James raised 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. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $231.33.

L3Harris Technologies Stock Performance

NYSE:LHX traded up $2.51 during midday trading on Monday, reaching $214.75. The stock had a trading volume of 789,099 shares, compared to its average volume of 1,118,148. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The stock has a market cap of $40.73 billion, a P/E ratio of 34.86, a P/E/G ratio of 1.88 and a beta of 0.63. The firm has a fifty day simple moving average of $210.24 and a two-hundred day simple moving average of $203.13. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $218.34.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (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 analyst estimates of $5.11 billion. During the same period in the previous year, the business posted $2.86 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. On average, equities analysts expect that L3Harris Technologies, Inc. will post 12.91 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.16%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction 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 owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Scott T. Mikuen sold 1,292 shares of the firm’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 completion of the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders have sold 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.

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.