Legacy Wealth Management LLC MS Buys 1,908 Shares of L3Harris Technologies Inc $LHX

Legacy Wealth Management LLC MS boosted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 16.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 13,304 shares of the company’s stock after acquiring an additional 1,908 shares during the quarter. L3Harris Technologies makes up about 1.0% of Legacy Wealth Management LLC MS’s portfolio, making the stock its 21st biggest position. Legacy Wealth Management LLC MS’s holdings in L3Harris Technologies were worth $3,906,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Twin Lakes Capital Management LLC grew its stake in L3Harris Technologies by 0.3% in the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock worth $4,380,000 after acquiring an additional 38 shares in the last quarter. Lantern Wealth Advisors LLC lifted its holdings in shares of L3Harris Technologies by 0.8% in the 3rd quarter. Lantern Wealth Advisors LLC now owns 4,699 shares of the company’s stock worth $1,435,000 after buying an additional 38 shares during the period. Patrick M Sweeney & Associates Inc. grew its position in shares of L3Harris Technologies by 3.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock worth $280,000 after buying an additional 40 shares in the last quarter. Moment Partners LLC increased its stake in shares of L3Harris Technologies by 1.6% during the third quarter. Moment Partners LLC now owns 2,501 shares of the company’s stock valued at $764,000 after buying an additional 40 shares during the period. Finally, Catalyst Financial Partners LLC increased its stake in shares of L3Harris Technologies by 2.6% during the third quarter. Catalyst Financial Partners LLC now owns 1,602 shares of the company’s stock valued at $489,000 after buying an additional 40 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 1.3%

Shares of L3Harris Technologies stock opened at $363.62 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. L3Harris Technologies Inc has a 12-month low of $195.72 and a 12-month high of $379.23. The firm has a market capitalization of $67.92 billion, a price-to-earnings ratio of 42.63, a PEG ratio of 2.66 and a beta of 0.63. The firm’s 50 day simple moving average is $353.23 and its two-hundred day simple moving average is $311.12.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.76 by $0.10. The business had revenue of $5.65 billion during 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%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.47 earnings per share. Analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

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

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 751 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $278,110.32. Following the sale, the vice president owned 4,131 shares in the company, valued at approximately $1,529,791.92. The trade was a 15.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Rambeau sold 5,528 shares of the stock in a transaction dated 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 directly owned 7,660 shares in the company, valued at $2,836,651.20. This represents a 41.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 19,025 shares of company stock valued at $6,824,370. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LHX. JPMorgan Chase & Co. upped their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Citigroup raised their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. UBS Group boosted their price target on shares of L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, February 6th. Finally, Truist Financial set a $364.00 price objective on shares of L3Harris Technologies in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

L3Harris Technologies Company 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.