L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Wedgewood Investors Inc. PA

Wedgewood Investors Inc. PA reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,173 shares of the company’s stock after selling 130 shares during the period. L3Harris Technologies comprises 1.4% of Wedgewood Investors Inc. PA’s holdings, making the stock its 17th largest position. Wedgewood Investors Inc. PA’s holdings in L3Harris Technologies were worth $1,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LHX. KB Financial Partners LLC lifted its holdings in L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new stake in L3Harris Technologies during the 3rd quarter worth approximately $35,000. Blue Trust Inc. raised its stake in shares of L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings in shares of L3Harris Technologies by 80.6% in the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after acquiring an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at about $46,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research report on Monday, April 22nd. Raymond James upped their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, UBS Group upped their target price on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $231.50.

L3Harris Technologies Stock Up 0.0 %

Shares of NYSE LHX traded up $0.02 on Wednesday, hitting $214.07. The company had a trading volume of 120,697 shares, compared to its average volume of 1,118,370. The firm has a market capitalization of $40.60 billion, a P/E ratio of 34.65, a PEG ratio of 2.00 and a beta of 0.65. The company has a quick ratio of 0.80, a current ratio of 0.98 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 business has a 50 day moving average of $210.30 and a two-hundred day moving average of $202.18.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the business earned $2.86 EPS. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 12.83 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a yield of 2.17%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Insider Transactions at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the transaction, the insider now directly owns 28,644 shares in the company, valued at $6,057,346.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is currently owned by corporate insiders.

About L3Harris Technologies

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.