DAVENPORT & Co LLC Sells 4,486 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

DAVENPORT & Co LLC trimmed its position in L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 546,300 shares of the company’s stock after selling 4,486 shares during the period. DAVENPORT & Co LLC owned approximately 0.29% of L3Harris Technologies worth $115,103,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cowa LLC purchased a new stake in shares of L3Harris Technologies in the first quarter worth approximately $26,000. Mascoma Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the third quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of L3Harris Technologies in the first quarter worth approximately $27,000. KB Financial Partners LLC increased its position in shares of L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares during the last quarter. Finally, First Capital Advisors Group LLC. purchased a new stake in shares of L3Harris Technologies during the second quarter valued at approximately $29,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Price Performance

Shares of LHX traded down $3.41 during midday trading on Tuesday, hitting $205.15. 1,335,993 shares of the company traded hands, compared to its average volume of 1,133,900. The firm has a 50 day moving average of $211.26 and a 200-day moving average of $197.17. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The stock has a market cap of $39.00 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 1.98 and a beta of 0.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01.

L3Harris Technologies (NYSE:LHXGet Free Report) last released its quarterly earnings data on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The business had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the firm earned $3.27 EPS. The business’s revenue was up 16.6% on a year-over-year basis. On average, analysts forecast that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s dividend payout ratio is 72.05%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LHX shares. Wells Fargo & Company decreased 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. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Royal Bank of Canada increased their price objective on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, January 29th. UBS Group increased their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Finally, TheStreet raised L3Harris Technologies from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $229.00.

Get Our Latest Research Report on LHX

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the sale, the senior vice president now directly owns 58,617 shares in the company, valued at approximately $12,376,393.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the sale, the insider now owns 28,644 shares in the company, valued at $6,057,346.68. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 in the last 90 days. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

Receive News & Ratings for L3Harris Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris Technologies and related companies with MarketBeat.com's FREE daily email newsletter.