SVB Wealth LLC Has $9.40 Million Stock Position in L3Harris Technologies Inc $LHX

SVB Wealth LLC lessened its stake in L3Harris Technologies Inc (NYSE:LHX) by 15.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,775 shares of the company’s stock after selling 5,722 shares during the quarter. SVB Wealth LLC’s holdings in L3Harris Technologies were worth $9,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of LHX. Twin Lakes Capital Management LLC raised its position in L3Harris Technologies by 0.3% in the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock worth $4,380,000 after purchasing an additional 38 shares during the last quarter. Fidelis Capital Partners LLC raised its position in shares of L3Harris Technologies by 2.2% during the second quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after acquiring an additional 39 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its stake in shares of L3Harris Technologies by 3.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock valued at $280,000 after acquiring an additional 40 shares during the period. Deseret Mutual Benefit Administrators boosted its holdings in L3Harris Technologies by 3.9% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,085 shares of the company’s stock valued at $331,000 after acquiring an additional 41 shares during the last quarter. Finally, Riverbend Wealth Management LLC increased its position in L3Harris Technologies by 4.3% in the second quarter. Riverbend Wealth Management LLC now owns 1,027 shares of the company’s stock worth $258,000 after purchasing an additional 42 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on LHX shares. Truist Financial set a $364.00 target price on shares of L3Harris Technologies in a research report on Wednesday, January 14th. Citigroup increased their price objective on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a report on Thursday. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. TD Cowen restated a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Finally, Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $328.57.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the sale, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Samir Mehta sold 4,840 shares of the business’s stock in a transaction on 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 completion of the sale, the insider directly owned 5,916 shares in the company, valued at $2,004,636.60. This represents a 45.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $350.59 on Tuesday. The stock’s fifty day simple moving average is $316.50 and its 200 day simple moving average is $295.10. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $65.58 billion, a PE ratio of 41.10, a PEG ratio of 2.52 and a beta of 0.64. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $369.59.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company 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 company earned $3.47 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts predict 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. Shareholders of record on Friday, March 6th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s payout ratio is presently 56.27%.

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.