L3Harris Technologies, Inc. (NYSE:LHX) Stock Position Cut by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 14.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,242 shares of the company’s stock after selling 8,255 shares during the period. Wedge Capital Management L L P NC’s holdings in L3Harris Technologies were worth $10,161,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. GDS Wealth Management lifted its stake in L3Harris Technologies by 184.5% during the third quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock valued at $15,692,000 after buying an additional 58,441 shares in the last quarter. Sapient Capital LLC purchased a new stake in L3Harris Technologies during the fourth quarter valued at about $1,198,000. Bruce G. Allen Investments LLC purchased a new stake in L3Harris Technologies during the fourth quarter valued at about $46,000. Ceredex Value Advisors LLC lifted its position in shares of L3Harris Technologies by 14.1% in the third quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock worth $117,315,000 after purchasing an additional 83,319 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth approximately $1,125,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.2 %

Shares of LHX stock opened at $207.62 on Wednesday. The stock has a market cap of $39.47 billion, a P/E ratio of 32.24, a price-to-earnings-growth ratio of 1.93 and a beta of 0.65. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The stock has a fifty day moving average price of $210.23 and a 200 day moving average price of $200.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. The company had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the business earned $3.27 earnings per share. Analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. The ex-dividend date is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.23%. L3Harris Technologies’s payout ratio is presently 72.05%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the sale, the insider now directly owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the sale, the insider now directly owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William H. Swanson purchased 1,250 shares of the stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now owns 1,543 shares in the company, valued at $332,285.05. The disclosure for this purchase can be found here. Insiders have sold a total of 48,362 shares of company stock worth $10,261,360 in the last 90 days. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LHX. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective on the stock in a report on Thursday, January 11th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Raymond James increased their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research note on Monday. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.60.

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.