L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 93.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,419 shares of the company’s stock after selling 19,065 shares during the period. Moran Wealth Management LLC’s holdings in L3Harris Technologies were worth $298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth about $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter worth about $30,000. Archer Investment Corp increased its position in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $33,000. Finally, New Millennium Group LLC lifted its position in shares of L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after acquiring an additional 163 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 1.4 %

Shares of NYSE:LHX opened at $209.28 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $39.41 billion, a PE ratio of 26.59, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The firm has a fifty day moving average price of $209.15 and a 200 day moving average price of $227.28.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a $1.20 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.29%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Wall Street Analyst Weigh In

Several research firms have weighed in on LHX. Barclays lowered their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. UBS Group raised their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Bank of America dropped their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,862 shares of company stock worth $2,155,054. 0.82% of the stock is owned by insiders.

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.