WealthTrust Asset Management LLC Reduces Position in L3Harris Technologies, Inc. (NYSE:LHX)

WealthTrust Asset Management LLC trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,384 shares of the company’s stock after selling 83 shares during the quarter. WealthTrust Asset Management LLC’s holdings in L3Harris Technologies were worth $712,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $27,000. Roxbury Financial LLC acquired a new position in L3Harris Technologies in the fourth quarter worth about $30,000. Archer Investment Corp grew its stake in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in L3Harris Technologies in the fourth quarter worth about $33,000. Finally, New Millennium Group LLC grew its stake in L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after purchasing an additional 163 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LHX has been the subject of a number of research reports. Citigroup decreased their price target on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Bank of America decreased their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Morgan Stanley decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $261.40.

Insider Buying and Selling

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the transaction, the insider now directly owns 8,576 shares in the company, valued at $1,917,765.12. This represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,862 shares of company stock valued at $2,155,054 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $211.42 on Friday. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock has a market cap of $39.69 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.42 and a beta of 0.74. The stock’s 50 day moving average price is $209.26 and its 200 day moving average price is $227.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a dividend of $1.20 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.27%. L3Harris Technologies’s payout ratio is presently 60.99%.

L3Harris Technologies Company Profile

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.