Summit Financial LLC Sells 114 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Summit Financial LLC trimmed its position in L3Harris Technologies, Inc. (NYSE:LHX) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,241 shares of the company’s stock after selling 114 shares during the period. Summit Financial LLC’s holdings in L3Harris Technologies were worth $682,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Measured Wealth Private Client Group LLC lifted its stake in L3Harris Technologies by 5.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock valued at $200,000 after acquiring an additional 50 shares in the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of L3Harris Technologies by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock worth $328,000 after purchasing an additional 51 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in shares of L3Harris Technologies by 2.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock worth $514,000 after purchasing an additional 53 shares in the last quarter. Klingman & Associates LLC boosted its holdings in L3Harris Technologies by 2.8% during the fourth quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock worth $406,000 after purchasing an additional 53 shares during the last quarter. Finally, Zullo Investment Group Inc. grew its position in L3Harris Technologies by 3.2% in the fourth quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company’s stock valued at $361,000 after purchasing an additional 54 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of recent research reports. Bank of America reduced their price objective 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. Citigroup reduced their price target on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Truist Financial dropped their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. decreased 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 note on Friday, January 31st. Finally, UBS Group increased their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $260.69.

L3Harris Technologies Trading Up 1.0 %

Shares of NYSE:LHX opened at $211.93 on Thursday. The stock has a market cap of $39.78 billion, a PE ratio of 26.93, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The business has a 50 day moving average of $208.73 and a 200-day moving average of $225.14.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data 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%. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $1.20 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.26%. L3Harris Technologies’s payout ratio is 60.99%.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction 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. 0.72% of the stock is currently owned by corporate insiders.

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.