CoreCap Advisors LLC Sells 166 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

CoreCap Advisors LLC trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 26.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 465 shares of the company’s stock after selling 166 shares during the period. CoreCap Advisors LLC’s holdings in L3Harris Technologies were worth $98,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. grew its holdings in L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after buying an additional 82 shares during the last quarter. Millstone Evans Group LLC acquired a new position in L3Harris Technologies in the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies in the fourth quarter worth $27,000. Roxbury Financial LLC acquired a new position in L3Harris Technologies in the fourth quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after acquiring an additional 111 shares during the period. 84.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group upped their price target on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and increased their price target for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Bank of America lowered their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Morgan Stanley decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $256.56.

Insiders Place Their Bets

In related news, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now owns 2,797 shares in the company, valued at $632,122. This represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

LHX opened at $218.44 on Wednesday. The stock has a market cap of $40.84 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 2.42 and a beta of 0.72. The business has a 50 day moving average of $214.18 and a 200-day moving average of $219.78. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the firm posted $3.06 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.20%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

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.