Evercore Wealth Management LLC Sells 150 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Evercore Wealth Management LLC trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,620 shares of the company’s stock after selling 150 shares during the quarter. Evercore Wealth Management LLC’s holdings in L3Harris Technologies were worth $937,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC bought a new stake in L3Harris Technologies during the 1st quarter worth approximately $26,000. Concord Wealth Partners increased its stake in L3Harris Technologies by 258.3% during the 1st quarter. Concord Wealth Partners now owns 129 shares of the company’s stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Wealthcare Capital Management LLC bought a new stake in L3Harris Technologies during the 1st quarter worth approximately $29,000. Piscataqua Savings Bank bought a new stake in L3Harris Technologies during the 1st quarter worth approximately $30,000. Finally, Sage Private Wealth Group LLC bought a new stake in L3Harris Technologies during the 4th quarter worth approximately $35,000. 79.87% of the stock is owned by institutional investors and hedge funds.

Shares of L3Harris Technologies stock opened at $227.10 on Thursday. The firm’s fifty day simple moving average is $219.87. L3Harris Technologies, Inc. has a 1 year low of $158.09 and a 1 year high of $228.19. The firm has a market cap of $46.55 billion, a P/E ratio of 35.26, a price-to-earnings-growth ratio of 1.93 and a beta of 0.88. The company has a quick ratio of 1.57, a current ratio of 1.78 and a debt-to-equity ratio of 0.34.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Friday, April 30th. The company reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.26. L3Harris Technologies had a return on equity of 12.01% and a net margin of 7.55%. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter last year, the firm posted $2.80 EPS. The company’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts expect that L3Harris Technologies, Inc. will post 12.99 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Friday, May 28th. L3Harris Technologies’s dividend payout ratio is 35.17%.

A number of research firms have weighed in on LHX. Wells Fargo & Company began coverage on L3Harris Technologies in a research report on Tuesday, May 18th. They set an “equal weight” rating and a $225.00 price target for the company. Jefferies Financial Group upped their price target on L3Harris Technologies from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, May 3rd. Morgan Stanley reaffirmed a “buy” rating on shares of L3Harris Technologies in a research report on Friday, May 14th. Benchmark reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Monday, May 3rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $208.00 price target on shares of L3Harris Technologies in a research report on Wednesday, April 14th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $226.23.

In other L3Harris Technologies news, insider Dana A. Mehnert sold 64,643 shares of the stock in a transaction on Monday, June 7th. The stock was sold at an average price of $219.14, for a total transaction of $14,165,867.02. Following the transaction, the insider now owns 69,689 shares in the company, valued at approximately $15,271,647.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd A. Taylor sold 5,312 shares of the stock in a transaction on Friday, June 4th. The stock was sold at an average price of $220.70, for a total value of $1,172,358.40. The disclosure for this sale can be found here. Insiders have sold a total of 266,281 shares of company stock valued at $58,623,228 in the last ninety days. Insiders own 1.40% of the company’s stock.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modifications, and periodic depot maintenance services for ISR and airborne missions.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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