L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 3.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,033 shares of the company’s stock after selling 150 shares during the quarter. Princeton Global Asset Management LLC’s holdings in L3Harris Technologies were worth $844,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Meeder Asset Management Inc. raised its holdings in shares of L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after buying an additional 82 shares during the last quarter. Millstone Evans Group LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies in the 4th quarter worth $27,000. Roxbury Financial LLC purchased a new position in L3Harris Technologies in the 4th quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after acquiring an additional 111 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jon Rambeau sold 3,178 shares of the business’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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider now owns 25,325 shares of the company’s stock, valued at $6,204,625. This trade represents a 7.32% 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 company insiders.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $244.31 on Friday. The firm has a market cap of $45.67 billion, a PE ratio of 31.04, a P/E/G ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month 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 business has a 50-day moving average price of $223.54 and a 200 day moving average price of $218.32.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. L3Harris Technologies’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $3.06 earnings per share. Sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies’s payout ratio is presently 56.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LHX. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and increased their price objective for the company from $198.00 to $263.00 in a report on Friday, April 11th. Jefferies Financial Group cut their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Truist Financial reduced their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Citigroup dropped their price objective on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, UBS Group raised their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.56.

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.