Avantax Planning Partners Inc. Reduces Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Avantax Planning Partners Inc. decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,721 shares of the company’s stock after selling 122 shares during the period. Avantax Planning Partners Inc.’s holdings in L3Harris Technologies were worth $362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies during the 4th quarter worth $27,000. Roxbury Financial LLC purchased a new stake in L3Harris Technologies during the 4th quarter worth $30,000. Archer Investment Corp increased its stake in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in L3Harris Technologies during the 4th quarter worth $33,000. Finally, New Millennium Group LLC increased its stake in L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 1.4 %

L3Harris Technologies stock opened at $209.28 on Thursday. 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 firm has a 50-day moving average price of $209.15 and a two-hundred day moving average price of $227.28. The firm has a market capitalization of $39.41 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its 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 net margin of 7.04% and a return on equity of 13.11%. Sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be paid a $1.20 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s dividend payout ratio is currently 60.99%.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the company’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 completion of the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,862 shares of company stock valued at $2,155,054. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Barclays dropped their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Susquehanna dropped their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. UBS Group boosted their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Truist Financial lowered their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $261.40.

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.