Kesler Norman & Wride LLC Decreases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Kesler Norman & Wride LLC lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,666 shares of the company’s stock after selling 522 shares during the quarter. L3Harris Technologies comprises about 1.4% of Kesler Norman & Wride LLC’s holdings, making the stock its 21st largest holding. Kesler Norman & Wride LLC’s holdings in L3Harris Technologies were worth $6,535,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in L3Harris Technologies in the 4th quarter worth approximately $28,000. KB Financial Partners LLC boosted its stake in shares of L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after buying an additional 82 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares during the last quarter. Washington Trust Advisors Inc. boosted its stake in shares of L3Harris Technologies by 80.6% during the 4th 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 purchased a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on LHX shares. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research note on Monday, April 22nd. Barclays increased their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. raised their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Royal Bank of Canada raised their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Finally, Wells Fargo & Company raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $231.80.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,086,585.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Christopher E. Kubasik sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,086,585.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the transaction, the vice president now directly owns 14,186 shares in the company, valued at $3,074,531.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,898 shares of company stock valued at $18,558,167. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE LHX traded up $0.98 during trading hours on Thursday, hitting $224.58. The company had a trading volume of 422,248 shares, compared to its average volume of 723,384. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $228.13. 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 business has a fifty day simple moving average of $220.62 and a 200-day simple moving average of $213.13. The firm has a market cap of $42.60 billion, a P/E ratio of 36.46, a price-to-earnings-growth ratio of 1.87 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.17. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the company earned $2.86 earnings per share. Equities analysts predict that L3Harris Technologies, Inc. will post 12.93 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

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.