EP Wealth Advisors LLC Trims Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

EP Wealth Advisors LLC lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 19.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,716 shares of the company’s stock after selling 672 shares during the period. EP Wealth Advisors LLC’s holdings in L3Harris Technologies were worth $579,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of LHX. Bfsg LLC acquired a new position in L3Harris Technologies during the first quarter worth $25,000. Transcendent Capital Group LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $28,000. EntryPoint Capital LLC raised its position in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the last quarter. Blue Trust Inc. lifted its stake in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares in the last quarter. Finally, Washington Trust Advisors Inc. boosted its holdings in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after buying an additional 79 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Barclays lifted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their price target for the stock from $245.00 to $257.00 in a research report on Friday. Finally, Wells Fargo & Company increased their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $232.93.

L3Harris Technologies Trading Down 5.7 %

LHX traded down $13.86 during trading hours on Friday, reaching $229.41. The company’s stock had a trading volume of 2,215,861 shares, compared to its average volume of 995,144. The stock has a market cap of $43.51 billion, a PE ratio of 37.22, a P/E/G ratio of 1.97 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The business’s 50-day moving average is $226.09 and its 200-day moving average is $215.80.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $3.18 by $0.06. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.97 EPS. As a group, equities research analysts predict that L3Harris Technologies, Inc. will post 12.99 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Activity

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the transaction, the vice president now directly owns 17,540 shares in the company, valued at $3,823,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the transaction, the vice president now directly owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,312 shares of company stock valued at $24,712,822. Company insiders own 0.82% of the company’s stock.

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.