Inceptionr LLC Decreases Position in L3Harris Technologies Inc $LHX

Inceptionr LLC trimmed its holdings in L3Harris Technologies Inc (NYSE:LHX) by 81.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,143 shares of the company’s stock after selling 5,167 shares during the quarter. Inceptionr LLC’s holdings in L3Harris Technologies were worth $349,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Caitlin John LLC purchased a new stake in shares of L3Harris Technologies during the 3rd quarter worth approximately $28,000. GGM Financials LLC purchased a new position in shares of L3Harris Technologies in the 3rd quarter valued at $32,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of L3Harris Technologies in the 2nd quarter valued at $34,000. Salomon & Ludwin LLC acquired a new stake in L3Harris Technologies during the 3rd quarter worth $34,000. Finally, Rakuten Securities Inc. raised its stake in L3Harris Technologies by 234.8% during the 2nd quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock worth $39,000 after acquiring an additional 108 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other L3Harris Technologies news, insider Samir Mehta sold 5,528 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. This trade represents a 41.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the transaction, the insider owned 7,660 shares in the company, valued at $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,025 shares of company stock valued at $6,824,370 over the last quarter. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Up 0.8%

Shares of NYSE:LHX opened at $364.47 on Thursday. The stock has a market cap of $68.07 billion, a P/E ratio of 42.73, a P/E/G ratio of 2.61 and a beta of 0.63. The firm has a fifty day moving average price of $346.76 and a 200 day moving average price of $307.71. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. L3Harris Technologies Inc has a 1-year low of $195.72 and a 1-year high of $379.23.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.10. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. L3Harris Technologies’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $3.47 EPS. Sell-side analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a dividend of $1.25 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s dividend payout ratio is 58.62%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Argus upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. Royal Bank Of Canada lifted their target price on L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Wall Street Zen downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. TD Cowen reissued a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Finally, Morgan Stanley raised their price target on L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $328.57.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.