Pathstone Holdings LLC Sells 2,031 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Pathstone Holdings LLC reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 55,881 shares of the company’s stock after selling 2,031 shares during the period. Pathstone Holdings LLC’s holdings in L3Harris Technologies were worth $11,751,000 as of its most recent SEC filing.

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

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’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 completion of the transaction, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Truist Financial lowered their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, April 25th. UBS Group boosted their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and boosted their price target for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Citigroup lowered their price objective on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $256.56.

L3Harris Technologies Trading Up 3.4%

NYSE:LHX opened at $227.07 on Friday. The company’s 50 day moving average price is $214.33 and its 200-day moving average price is $219.63. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market cap of $42.45 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the prior year, the firm posted $3.06 EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced 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 of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 2.11%. L3Harris Technologies’s dividend payout ratio is 56.94%.

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.