L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,455 shares of the company’s stock after selling 150 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in L3Harris Technologies were worth $3,460,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. OneDigital Investment Advisors LLC increased its stake in L3Harris Technologies by 0.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after buying an additional 40 shares during the period. Measured Wealth Private Client Group LLC boosted its holdings in shares of L3Harris Technologies by 5.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock valued at $200,000 after buying an additional 50 shares in the last quarter. Avestar Capital LLC boosted its holdings in shares of L3Harris Technologies by 4.2% in the 3rd quarter. Avestar Capital LLC now owns 1,255 shares of the company’s stock valued at $299,000 after buying an additional 51 shares in the last quarter. Premier Path Wealth Partners LLC boosted its holdings in shares of L3Harris Technologies by 3.4% in the 4th quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock valued at $328,000 after buying an additional 51 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in L3Harris Technologies by 2.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock worth $514,000 after purchasing an additional 53 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley decreased their price target 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. Bank of America cut their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Citigroup cut their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Finally, UBS Group raised their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

L3Harris Technologies Trading Up 0.1 %

Shares of LHX stock opened at $211.42 on Monday. The stock has a market cap of $39.69 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm’s 50 day moving average price is $209.26 and its two-hundred day moving average price is $226.99.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.20 per share. The ex-dividend date is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.27%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,098 shares of company stock worth $1,760,588 over the last 90 days. Company insiders own 0.82% 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.