L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by WealthBridge Investment Counsel Inc.

WealthBridge Investment Counsel Inc. cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,718 shares of the company’s stock after selling 538 shares during the period. L3Harris Technologies comprises about 2.2% of WealthBridge Investment Counsel Inc.’s holdings, making the stock its 26th largest position. WealthBridge Investment Counsel Inc.’s holdings in L3Harris Technologies were worth $6,118,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LHX. Meeder Asset Management Inc. raised its position in shares of L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in L3Harris Technologies in the fourth quarter valued at $28,000. EntryPoint Capital LLC grew its holdings in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the last quarter. Versant Capital Management Inc grew its stake in L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares during the last quarter. Finally, Family Firm Inc. purchased a new position in shares of L3Harris Technologies during the second quarter worth approximately $45,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 0.1 %

Shares of NYSE LHX opened at $242.35 on Friday. The stock has a market capitalization of $45.98 billion, a price-to-earnings ratio of 38.78, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. L3Harris Technologies, Inc. has a 52 week low of $169.55 and a 52 week high of $247.33. The firm has a 50-day moving average price of $232.54 and a 200 day moving average price of $224.19. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $2.97 EPS. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 74.24%.

Insider Activity

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $11,189,760. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,863 shares of company stock worth $5,171,749 over the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LHX shares. Citigroup lifted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company dropped their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday. Finally, Barclays upped their price target on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.64.

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.