Laird Norton Wetherby Wealth Management LLC Sells 239 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Laird Norton Wetherby Wealth Management LLC decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,682 shares of the company’s stock after selling 239 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in L3Harris Technologies were worth $774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Jefferies Financial Group Inc. acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $232,000. Gotham Asset Management LLC increased its holdings in L3Harris Technologies by 2,501.7% in the fourth quarter. Gotham Asset Management LLC now owns 52,763 shares of the company’s stock valued at $11,095,000 after purchasing an additional 50,735 shares during the last quarter. Graham Capital Management L.P. acquired a new position in L3Harris Technologies in the fourth quarter valued at about $1,947,000. Focus Partners Wealth boosted its holdings in L3Harris Technologies by 5.3% during the fourth quarter. Focus Partners Wealth now owns 67,176 shares of the company’s stock worth $14,266,000 after buying an additional 3,375 shares during the last quarter. Finally, Eisler Capital Management Ltd. acquired a new position in shares of L3Harris Technologies during the 4th quarter worth about $9,788,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $219.15 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a market cap of $40.97 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The stock’s 50-day moving average is $214.16 and its 200-day moving average is $219.77. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74.

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

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s payout ratio is 56.94%.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was 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 directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This represents a 53.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LHX. Bank of America lowered their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Morgan Stanley lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Citigroup cut their target price on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group decreased their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $256.56.

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.