Alaethes Wealth LLC Has $1.30 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Alaethes Wealth LLC decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,198 shares of the company’s stock after selling 151 shares during the period. Alaethes Wealth LLC’s holdings in L3Harris Technologies were worth $1,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of LHX. Raymond James Financial Inc. bought a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $398,507,000. Invesco Ltd. grew its position in L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock worth $469,992,000 after buying an additional 522,861 shares in the last quarter. Vanguard Group Inc. increased its stake in L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after acquiring an additional 401,168 shares during the period. Marshall Wace LLP raised its holdings in L3Harris Technologies by 8,438.8% in the 4th quarter. Marshall Wace LLP now owns 249,162 shares of the company’s stock valued at $52,394,000 after acquiring an additional 246,244 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of L3Harris Technologies by 11.5% during the 4th quarter. FMR LLC now owns 2,261,999 shares of the company’s stock worth $475,653,000 after purchasing an additional 233,968 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent analyst reports. UBS Group upped their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Bank of America reduced their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Citigroup lowered their price objective on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company decreased their price target on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Truist Financial dropped their price objective on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $256.56.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $219.72 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The firm has a market cap of $41.24 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The firm’s fifty day moving average is $212.69 and its 200-day moving average is $221.39.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.06 EPS. Sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 2.18%. L3Harris Technologies’s payout ratio is 56.94%.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% 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.