L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC cut its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,947 shares of the company’s stock after selling 1,691 shares during the quarter. Cannell & Spears LLC’s holdings in L3Harris Technologies were worth $11,344,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Meeder Asset Management Inc. increased its holdings in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in L3Harris Technologies during the fourth quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter worth about $30,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on LHX shares. JPMorgan Chase & Co. reduced their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Citigroup dropped their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Finally, Truist Financial decreased their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

L3Harris Technologies Stock Performance

NYSE LHX opened at $207.46 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock’s fifty day moving average is $209.34 and its two-hundred day moving average is $225.51. The firm has a market capitalization of $38.94 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $1.20 dividend. The ex-dividend date was Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.31%. L3Harris Technologies’s dividend payout ratio is currently 60.99%.

L3Harris Technologies Profile

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.