Stonebridge Financial Planning Group LLC Sells 225 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Stonebridge Financial Planning Group LLC decreased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,616 shares of the company’s stock after selling 225 shares during the period. Stonebridge Financial Planning Group LLC’s holdings in L3Harris Technologies were worth $760,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LHX. Arkadios Wealth Advisors raised its stake in L3Harris Technologies by 9.6% in the fourth quarter. Arkadios Wealth Advisors now owns 1,452 shares of the company’s stock valued at $305,000 after buying an additional 127 shares during the period. Diversify Wealth Management LLC raised its stake in L3Harris Technologies by 8.9% in the fourth quarter. Diversify Wealth Management LLC now owns 1,121 shares of the company’s stock valued at $233,000 after buying an additional 92 shares during the period. UMB Bank n.a. increased its stake in shares of L3Harris Technologies by 6.5% during the fourth quarter. UMB Bank n.a. now owns 1,571 shares of the company’s stock worth $330,000 after purchasing an additional 96 shares during the period. LaFleur & Godfrey LLC increased its stake in shares of L3Harris Technologies by 58.3% during the fourth quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company’s stock worth $5,635,000 after purchasing an additional 9,873 shares during the period. Finally, Pure Financial Advisors LLC increased its stake in shares of L3Harris Technologies by 5.4% during the fourth quarter. Pure Financial Advisors LLC now owns 1,483 shares of the company’s stock worth $312,000 after purchasing an additional 76 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction on 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 owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of recent research reports. Truist Financial lowered their target price on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Jefferies Financial Group lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Morgan Stanley lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lowered their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $256.56.

L3Harris Technologies Trading Up 3.0%

Shares of NYSE:LHX opened at $239.52 on Friday. The company has a market capitalization of $44.78 billion, a P/E ratio of 30.43, a P/E/G ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The business’s 50 day simple moving average is $216.48 and its 200 day simple moving average is $219.16.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The company’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.06 EPS. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is presently 56.94%.

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.