Accurate Wealth Management LLC Sells 82 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Accurate Wealth Management LLC lowered its position in L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 2.5% during the 4th quarter, HoldingsChannel reports. The firm owned 3,217 shares of the company’s stock after selling 82 shares during the period. Accurate Wealth Management LLC’s holdings in L3Harris Technologies were worth $650,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. increased its stake in L3Harris Technologies by 15.1% in the 3rd quarter. BlackRock Inc. now owns 14,314,799 shares of the company’s stock worth $2,975,043,000 after acquiring an additional 1,875,236 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in L3Harris Technologies by 17.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 9,758,276 shares of the company’s stock valued at $2,028,151,000 after purchasing an additional 1,448,364 shares in the last quarter. Cowa LLC purchased a new stake in L3Harris Technologies in the first quarter valued at approximately $26,000. Raymond James & Associates lifted its position in L3Harris Technologies by 83.7% during the third quarter. Raymond James & Associates now owns 938,579 shares of the company’s stock valued at $195,072,000 after purchasing an additional 427,649 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in L3Harris Technologies by 374.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 486,138 shares of the company’s stock worth $102,906,000 after buying an additional 383,747 shares in the last quarter. Hedge funds and other institutional investors own 82.18% of the company’s stock.

L3Harris Technologies Trading Down 3.5 %

Shares of LHX stock traded down $7.02 during mid-day trading on Friday, reaching $195.25. The stock had a trading volume of 1,946,816 shares, compared to its average volume of 1,337,372. The firm has a market capitalization of $37.09 billion, a PE ratio of 35.69, a price-to-earnings-growth ratio of 6.37 and a beta of 0.71. The stock’s 50-day moving average price is $206.37 and its two-hundred day moving average price is $218.15. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 0.33. L3Harris Technologies, Inc. has a 52-week low of $189.73 and a 52-week high of $264.71.

L3Harris Technologies (NYSE:LHX – Get Rating) last issued its quarterly earnings data on Friday, January 27th. The company reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.06. L3Harris Technologies had a net margin of 6.22% and a return on equity of 13.20%. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the previous year, the firm earned $3.30 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts expect that L3Harris Technologies, Inc. will post 12.32 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, March 9th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.12. L3Harris Technologies’s payout ratio is currently 83.36%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LHX. Credit Suisse Group dropped their price objective on shares of L3Harris Technologies from $244.00 to $240.00 and set an “outperform” rating for the company in a report on Friday, January 20th. JPMorgan Chase & Co. reduced their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “neutral” rating on the stock in a research report on Monday, December 12th. Truist Financial decreased their price objective on L3Harris Technologies from $264.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, January 30th. Cowen cut their target price on L3Harris Technologies from $260.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, January 12th. Finally, Susquehanna lifted their price target on shares of L3Harris Technologies from $265.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, January 30th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, L3Harris Technologies has an average rating of “Hold” and a consensus price target of $259.46.

About L3Harris Technologies

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L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.