Farther Finance Advisors LLC Sells 1,268 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Farther Finance Advisors LLC trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 47.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,378 shares of the company’s stock after selling 1,268 shares during the period. Farther Finance Advisors LLC’s holdings in L3Harris Technologies were worth $290,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at about $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at about $30,000. Union Bancaire Privee UBP SA bought a new position in shares of L3Harris Technologies during the fourth quarter valued at about $33,000. New Millennium Group LLC raised its stake in shares of L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after acquiring an additional 163 shares during the last quarter. Finally, Trust Co. of Vermont raised its stake in shares of L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after acquiring an additional 86 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were 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 approximately $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ross Niebergall sold 1,373 shares of the firm’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 transaction of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,098 shares of company stock worth $1,760,588 over the last 90 days. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Trading Down 0.2 %

NYSE:LHX opened at $212.46 on Wednesday. The company’s 50 day moving average price is $209.62 and its 200-day moving average price is $226.67. 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 $39.88 billion, a price-to-earnings ratio of 27.00, a PEG 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 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LHX shares. Susquehanna lowered their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Tuesday, November 26th. Bank of America decreased their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $261.40.

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.