L3Harris Technologies, Inc. (NYSE:LHX) Stock Position Lessened by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. decreased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,210 shares of the company’s stock after selling 258 shares during the quarter. L3Harris Technologies accounts for approximately 1.1% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 20th largest position. Cutter & CO Brokerage Inc.’s holdings in L3Harris Technologies were worth $3,835,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. KB Financial Partners LLC boosted its stake in L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after buying an additional 82 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new stake in L3Harris Technologies in the 3rd quarter worth about $35,000. Blue Trust Inc. lifted its stake in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares in the last quarter. Washington Trust Advisors Inc. lifted its stake in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after acquiring an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth about $46,000. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now owns 1,543 shares in the company, valued at $332,285.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 over the last three months. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

LHX traded down $0.52 during trading on Tuesday, hitting $207.62. The company’s stock had a trading volume of 850,718 shares, compared to its average volume of 1,114,118. The firm’s 50 day moving average price is $210.24 and its two-hundred day moving average price is $200.64. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The stock has a market capitalization of $39.47 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the company posted $3.27 EPS. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.23%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target for the company in a research note on Thursday, January 11th. Citigroup increased their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a report on Monday. Finally, StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $229.60.

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.