Stonebridge Financial Planning Group LLC Lowers Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Stonebridge Financial Planning Group LLC reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 11.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,666 shares of the company’s stock after selling 598 shares during the quarter. Stonebridge Financial Planning Group LLC’s holdings in L3Harris Technologies were worth $983,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Certuity LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter worth $511,000. Penobscot Investment Management Company Inc. acquired a new position in shares of L3Harris Technologies in the fourth quarter worth $247,000. Kestra Private Wealth Services LLC raised its holdings in shares of L3Harris Technologies by 9.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 31,220 shares of the company’s stock worth $6,576,000 after acquiring an additional 2,646 shares during the last quarter. Ledyard National Bank acquired a new position in shares of L3Harris Technologies in the fourth quarter worth $246,000. Finally, Adell Harriman & Carpenter Inc. grew its position in shares of L3Harris Technologies by 13.5% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 2,776 shares of the company’s stock valued at $585,000 after purchasing an additional 331 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director William H. Swanson bought 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 acquisition, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other L3Harris Technologies news, Director William H. Swanson acquired 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, with a total value of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on LHX. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Barclays lifted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday. Wells Fargo & Company lowered their price target on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Raymond James boosted their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada boosted their price target on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $230.88.

L3Harris Technologies Stock Down 1.4 %

NYSE LHX traded down $3.01 on Tuesday, hitting $214.05. 1,201,478 shares of the stock traded hands, compared to its average volume of 1,129,876. The stock has a 50-day moving average of $210.26 and a 200 day moving average of $201.92. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a market capitalization of $40.69 billion, a P/E ratio of 34.95, a price-to-earnings-growth ratio of 1.99 and a beta of 0.65. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter in the prior year, the firm posted $2.86 earnings per share. L3Harris Technologies’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, analysts expect that L3Harris Technologies, Inc. will post 12.76 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.