L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Truvestments Capital LLC

Truvestments Capital LLC raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,182 shares of the company’s stock after buying an additional 974 shares during the period. Truvestments Capital LLC’s holdings in L3Harris Technologies were worth $2,982,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Assetmark Inc. boosted its holdings in shares of L3Harris Technologies by 0.6% during the third quarter. Assetmark Inc. now owns 17,656 shares of the company’s stock worth $4,200,000 after purchasing an additional 100 shares during the last quarter. Sigma Planning Corp boosted its holdings in shares of L3Harris Technologies by 1.9% during the third quarter. Sigma Planning Corp now owns 2,613 shares of the company’s stock worth $622,000 after purchasing an additional 49 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of L3Harris Technologies by 37.6% during the third quarter. Axxcess Wealth Management LLC now owns 6,695 shares of the company’s stock worth $1,592,000 after purchasing an additional 1,828 shares during the last quarter. Legacy Capital Wealth Partners LLC acquired a new stake in shares of L3Harris Technologies during the third quarter worth $305,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of L3Harris Technologies in the 3rd quarter worth $64,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LHX shares. Citigroup cut their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Morgan Stanley cut their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Truist Financial cut their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Stock Down 2.4 %

NYSE:LHX opened at $212.58 on Wednesday. The company has a market capitalization of $40.03 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The stock has a 50-day simple moving average of $209.17 and a 200 day simple moving average of $227.41. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a $1.20 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s payout ratio is presently 60.99%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,862 shares of company stock worth $2,155,054 over the last ninety days. Company insiders own 0.82% of the company’s stock.

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.