Legacy Wealth Management LLC MS Increases Stock Holdings in L3Harris Technologies Inc $LHX

Legacy Wealth Management LLC MS raised its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 16.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,304 shares of the company’s stock after purchasing an additional 1,908 shares during the quarter. L3Harris Technologies accounts for approximately 1.0% of Legacy Wealth Management LLC MS’s holdings, making the stock its 21st biggest position. Legacy Wealth Management LLC MS’s holdings in L3Harris Technologies were worth $3,906,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Trust Co of the South boosted its stake in shares of L3Harris Technologies by 83.9% during the 4th quarter. Trust Co of the South now owns 2,225 shares of the company’s stock worth $653,000 after acquiring an additional 1,015 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of L3Harris Technologies by 15.5% in the 4th quarter. GAMMA Investing LLC now owns 4,748 shares of the company’s stock worth $1,394,000 after purchasing an additional 637 shares in the last quarter. PVG Asset Management Corp bought a new position in L3Harris Technologies in the 3rd quarter worth $223,000. Triumph Capital Management purchased a new position in L3Harris Technologies during the third quarter valued at $31,000. Finally, AIA Group Ltd lifted its position in L3Harris Technologies by 820.9% during the third quarter. AIA Group Ltd now owns 33,271 shares of the company’s stock valued at $10,161,000 after purchasing an additional 29,658 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of a number of analyst reports. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a research note on Monday, January 5th. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Finally, Wall Street Zen downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Stock Performance

NYSE LHX opened at $363.62 on Friday. The firm has a market cap of $67.92 billion, a price-to-earnings ratio of 42.63, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $353.23 and a 200-day moving average price of $311.12. L3Harris Technologies Inc has a twelve month low of $195.72 and a twelve month high of $379.23.

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, beating the consensus estimate of $2.76 by $0.10. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $3.47 EPS. As a group, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a $1.25 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, March 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 58.62%.

Insider Buying and Selling

In related news, VP Melanie Rakita sold 751 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $278,110.32. Following the sale, the vice president owned 4,131 shares of the company’s stock, valued at $1,529,791.92. This represents a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Rambeau sold 5,528 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the transaction, the insider owned 7,660 shares of the company’s stock, valued at $2,836,651.20. This trade represents a 41.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 19,025 shares of company stock worth $6,824,370. Insiders own 0.72% of the company’s stock.

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.