Wellington Shields Capital Management LLC Grows Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Wellington Shields Capital Management LLC grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,155 shares of the company’s stock after buying an additional 386 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in L3Harris Technologies were worth $2,135,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LHX. KCM Investment Advisors LLC increased its holdings in L3Harris Technologies by 43.8% in the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after acquiring an additional 5,868 shares in the last quarter. Fortem Financial Group LLC acquired a new stake in shares of L3Harris Technologies in the third quarter worth approximately $841,000. Czech National Bank increased its position in shares of L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after purchasing an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. raised its stake in L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after purchasing an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Up 1.0 %

Shares of NYSE:LHX opened at $211.04 on Friday. The firm’s 50-day moving average is $209.23 and its two-hundred day moving average is $227.17. 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, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The firm has a market capitalization of $39.74 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (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%. Analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $1.20 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LHX. JPMorgan Chase & Co. reduced their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Bank of America reduced their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Citigroup dropped their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $261.40.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred 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 directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the company’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 value of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,862 shares of company stock worth $2,155,054. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies 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.