L3Harris Technologies Inc $LHX Shares Sold by National Wealth Management Group LLC

National Wealth Management Group LLC lessened its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 46.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,909 shares of the company’s stock after selling 1,660 shares during the quarter. National Wealth Management Group LLC’s holdings in L3Harris Technologies were worth $560,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of L3Harris Technologies by 1.2% in the second quarter. State Street Corp now owns 8,874,482 shares of the company’s stock valued at $2,226,075,000 after acquiring an additional 105,402 shares during the period. Boston Partners increased its holdings in shares of L3Harris Technologies by 72.1% in the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock valued at $504,160,000 after acquiring an additional 838,546 shares during the period. Bank of America Corp DE increased its holdings in shares of L3Harris Technologies by 3.1% in the 2nd quarter. Bank of America Corp DE now owns 1,728,519 shares of the company’s stock valued at $433,582,000 after acquiring an additional 52,776 shares during the period. Capital Research Global Investors raised its position in L3Harris Technologies by 23.3% in the 3rd quarter. Capital Research Global Investors now owns 1,657,085 shares of the company’s stock valued at $506,090,000 after purchasing an additional 312,846 shares during the last quarter. Finally, AGF Management Ltd. raised its position in L3Harris Technologies by 15.9% in the 3rd quarter. AGF Management Ltd. now owns 1,500,887 shares of the company’s stock valued at $458,386,000 after purchasing an additional 205,479 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the topic of several research reports. Wolfe Research reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Truist Financial set a $364.00 target price on shares of L3Harris Technologies in a report on Wednesday, January 14th. Citigroup increased their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Morgan Stanley raised their price target on L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Finally, Royal Bank Of Canada boosted their price target on L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

Insider Activity

In related news, VP Melanie Rakita sold 2,378 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $341.45, for a total value of $811,968.10. Following the completion of the sale, the vice president owned 4,882 shares in the company, valued at $1,666,958.90. This trade represents a 32.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jon Rambeau sold 5,528 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the sale, the insider directly owned 7,660 shares in the company, valued at approximately $2,836,651.20. This represents a 41.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 19,025 shares of company stock worth $6,824,370 in the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of LHX opened at $352.25 on Thursday. 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 stock’s 50 day moving average is $354.06 and its two-hundred day moving average is $313.51. L3Harris Technologies Inc has a twelve month low of $195.72 and a twelve month high of $379.23. The firm has a market capitalization of $65.79 billion, a PE ratio of 41.29, a P/E/G ratio of 2.54 and a beta of 0.63.

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, topping analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The business 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 business posted $3.47 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were paid a dividend of $1.25 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio is currently 58.62%.

L3Harris Technologies Profile

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.