National Wealth Management Group LLC Cuts Stock Holdings in L3Harris Technologies Inc $LHX

National Wealth Management Group LLC reduced its stake in L3Harris Technologies Inc (NYSE:LHX) by 46.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,909 shares of the company’s stock after selling 1,660 shares during the period. National Wealth Management Group LLC’s holdings in L3Harris Technologies were worth $560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Caitlin John LLC purchased a new stake in L3Harris Technologies during the 3rd quarter worth about $28,000. JPL Wealth Management LLC purchased a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $29,000. Triumph Capital Management purchased a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $31,000. GGM Financials LLC acquired a new position in shares of L3Harris Technologies during the third quarter worth about $32,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of L3Harris Technologies during the second quarter worth about $34,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Samir Mehta sold 5,528 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,756 shares of the company’s stock, valued at $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Melanie Rakita sold 2,378 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $341.45, for a total transaction of $811,968.10. Following the completion of the transaction, the vice president owned 4,882 shares of the company’s stock, valued at $1,666,958.90. This represents a 32.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 19,025 shares of company stock worth $6,824,370. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $352.25 on Thursday. The stock’s 50-day simple moving average is $354.06 and its 200-day simple moving average is $313.51. The firm has a market capitalization of $65.79 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. L3Harris Technologies Inc has a fifty-two week low of $195.72 and a fifty-two week high of $379.23. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.

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

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio (DPR) is currently 58.62%.

Analyst Ratings Changes

Several analysts recently weighed in on LHX shares. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Vertical Research reiterated a “buy” rating and set a $355.00 price target on shares of L3Harris Technologies in a report on Tuesday, January 13th. Wolfe Research reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies 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.