L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. trimmed its position in L3Harris Technologies, Inc. (NYSE:LHX) by 23.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 174 shares of the company’s stock after selling 54 shares during the quarter. Geneos Wealth Management Inc.’s holdings in L3Harris Technologies were worth $37,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cowa LLC acquired a new stake in L3Harris Technologies in the first quarter worth approximately $26,000. Mascoma Wealth Management LLC acquired a new stake in shares of L3Harris Technologies during the 3rd quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of L3Harris Technologies during the 1st quarter valued at $27,000. KB Financial Partners LLC lifted its position in shares of L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares during the last quarter. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of L3Harris Technologies during the 2nd quarter valued at $29,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 1.4 %

NYSE LHX opened at $200.41 on Wednesday. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $38.10 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 1.88 and a beta of 0.65. The firm’s fifty day simple moving average is $210.70 and its 200-day simple moving average is $199.57.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The business had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the business posted $3.27 earnings per share. L3Harris Technologies’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $1.16 dividend. The ex-dividend date was Thursday, March 7th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.32%. L3Harris Technologies’s dividend payout ratio is 72.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Royal Bank of Canada increased their price objective on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a research report on Thursday, January 11th. Citigroup increased their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Finally, Raymond James boosted their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $229.00.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the transaction, the insider now directly owns 28,644 shares in the company, valued at $6,057,346.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is owned by insiders.

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.