L3Harris Technologies Inc $LHX Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. decreased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 53.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,484 shares of the company’s stock after selling 1,732 shares during the quarter. Wrapmanager Inc.’s holdings in L3Harris Technologies were worth $453,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of L3Harris Technologies during the 2nd quarter worth approximately $34,000. Salomon & Ludwin LLC acquired a new stake in L3Harris Technologies during the 3rd quarter worth $34,000. Rakuten Securities Inc. lifted its position in L3Harris Technologies by 234.8% in the second quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock valued at $39,000 after acquiring an additional 108 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in L3Harris Technologies in the third quarter valued at $42,000. Finally, Copia Wealth Management lifted its holdings in shares of L3Harris Technologies by 1,842.9% in the 3rd quarter. Copia Wealth Management now owns 136 shares of the company’s stock valued at $42,000 after purchasing an additional 129 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. Wall Street Zen downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. BNP Paribas Exane raised shares of L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Citigroup upped their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Finally, Morgan Stanley raised their price target on L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies Stock Down 0.4%

LHX stock opened at $354.69 on Tuesday. L3Harris Technologies Inc has a one year low of $195.72 and a one year high of $369.59. The company has a fifty day moving average of $329.75 and a 200-day moving average of $300.29. The stock has a market capitalization of $66.25 billion, a PE ratio of 41.58, a price-to-earnings-growth ratio of 2.57 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the business posted $3.47 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a $1.25 dividend. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is 56.27%.

Insider Activity at L3Harris Technologies

In related news, insider Samir Mehta sold 4,840 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the sale, the insider owned 5,916 shares of the company’s stock, valued at approximately $2,004,636.60. The trade was a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by company insiders.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.