New Century Financial Group LLC Has $450,000 Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

New Century Financial Group LLC trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 18.1% during the first quarter, HoldingsChannel.com reports. The fund owned 2,110 shares of the company’s stock after selling 467 shares during the quarter. New Century Financial Group LLC’s holdings in L3Harris Technologies were worth $450,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LHX. Transcendent Capital Group LLC bought a new stake in L3Harris Technologies during the 4th quarter worth approximately $28,000. KB Financial Partners LLC grew its holdings in shares of L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the last quarter. Blue Trust Inc. increased its stake in shares of L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares in the last quarter. Washington Trust Advisors Inc. raised its holdings in shares of L3Harris Technologies by 80.6% in the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after buying an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in L3Harris Technologies during the 4th quarter worth about $46,000. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LHX. Barclays raised their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. raised their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Wells Fargo & Company boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research note on Monday, April 22nd. Finally, Royal Bank of Canada raised their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Four research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.80.

L3Harris Technologies Stock Performance

LHX stock traded up $0.98 during midday trading on Thursday, reaching $224.58. 422,248 shares of the company were exchanged, compared to its average volume of 723,384. The firm has a market capitalization of $42.60 billion, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 1.87 and a beta of 0.72. The business has a 50-day moving average price of $220.62 and a two-hundred day moving average price of $213.13. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $228.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.86 EPS. Equities research analysts forecast that L3Harris Technologies, Inc. will post 12.93 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.07%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Insider Buying and Selling

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the transaction, the vice president now directly owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,157,578.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the sale, the vice president now directly owns 17,540 shares in the company, valued at approximately $3,823,720. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,898 shares of company stock valued at $18,558,167. 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.