SVB Wealth LLC Sells 5,722 Shares of L3Harris Technologies Inc $LHX

SVB Wealth LLC lessened its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,775 shares of the company’s stock after selling 5,722 shares during the quarter. SVB Wealth LLC’s holdings in L3Harris Technologies were worth $9,399,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in LHX. Kiker Wealth Management LLC raised its position in shares of L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 63 shares during the period. Salomon & Ludwin LLC bought a new stake in shares of L3Harris Technologies during the 3rd quarter worth $34,000. Twin Peaks Wealth Advisors LLC acquired a new position in L3Harris Technologies in the 2nd quarter valued at $34,000. Harbor Asset Planning Inc. bought a new position in L3Harris Technologies in the 2nd quarter worth $32,000. Finally, Copia Wealth Management lifted its position in L3Harris Technologies by 1,842.9% during the 3rd quarter. Copia Wealth Management now owns 136 shares of the company’s stock worth $42,000 after acquiring an additional 129 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

LHX opened at $350.59 on Tuesday. The stock’s 50 day simple moving average is $316.50 and its 200-day simple moving average is $295.10. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market cap of $65.58 billion, a PE ratio of 41.10, a P/E/G ratio of 2.52 and a beta of 0.64. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $369.59.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the previous year, the company earned $3.47 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.27%.

Wall Street Analysts Forecast Growth

LHX has been the topic of several research analyst reports. TD Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Vertical Research reaffirmed a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a report on Tuesday, January 13th. Wall Street Zen lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday. Truist Financial set a $364.00 price objective on L3Harris Technologies in a research report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $328.57.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the transaction, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. This represents a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Samir Mehta sold 4,840 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total value of $1,640,034.00. Following the completion of the sale, the insider directly owned 5,916 shares in the company, valued at approximately $2,004,636.60. This represents a 45.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.