L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Graypoint LLC

Graypoint LLC reduced its position in L3Harris Technologies, Inc. (NYSE:LHX) by 29.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,528 shares of the company’s stock after selling 1,042 shares during the period. Graypoint LLC’s holdings in L3Harris Technologies were worth $532,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. KCM Investment Advisors LLC raised its stake in shares of L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after buying an additional 5,868 shares during the last quarter. Fortem Financial Group LLC acquired a new position in L3Harris Technologies during the third quarter worth about $841,000. Sanctuary Advisors LLC lifted its holdings in shares of L3Harris Technologies by 13.9% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $7,602,000 after purchasing an additional 3,740 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on LHX. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Barclays decreased their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Susquehanna cut their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $266.31.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Up 0.5 %

Shares of NYSE:LHX opened at $208.20 on Friday. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The stock has a 50-day simple moving average of $231.09 and a 200-day simple moving average of $233.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a market capitalization of $39.49 billion, a P/E ratio of 32.89, a PEG ratio of 1.86 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the firm posted $3.19 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a $1.16 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.23%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

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.