Ridgewood Investments LLC Decreases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Ridgewood Investments LLC lessened its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 16.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,004 shares of the company’s stock after selling 200 shares during the quarter. Ridgewood Investments LLC’s holdings in L3Harris Technologies were worth $211,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. OneDigital Investment Advisors LLC increased its stake in L3Harris Technologies by 0.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after purchasing an additional 40 shares during the period. Koshinski Asset Management Inc. increased its stake in L3Harris Technologies by 2.7% in the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after purchasing an additional 42 shares during the period. Blossom Wealth Management increased its stake in L3Harris Technologies by 1.7% in the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after purchasing an additional 43 shares during the period. Nicholas Hoffman & Company LLC. grew its position in shares of L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after buying an additional 43 shares in the last quarter. Finally, Archer Investment Corp grew its position in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded down $1.38 during trading on Friday, hitting $205.77. The stock had a trading volume of 447,864 shares, compared to its average volume of 1,078,215. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The stock has a market capitalization of $39.03 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a 50-day simple moving average of $231.88 and a two-hundred day simple moving average of $233.36.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the business posted $3.19 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the transaction, the insider now directly owns 8,576 shares in the company, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 7,889 shares of company stock worth $1,800,572 over the last three months. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LHX shares. Wells Fargo & Company dropped their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Truist Financial raised their price objective on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday, October 10th. Finally, Royal Bank of Canada raised their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $266.31.

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.