Sigma Planning Corp Sells 1,778 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Sigma Planning Corp lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 56.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,346 shares of the company’s stock after selling 1,778 shares during the quarter. Sigma Planning Corp’s holdings in L3Harris Technologies were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Stanley raised its holdings in L3Harris Technologies by 1.9% in the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock worth $436,684,000 after purchasing an additional 47,691 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in L3Harris Technologies by 4.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock worth $430,049,000 after purchasing an additional 82,423 shares in the last quarter. Northern Trust Corp raised its holdings in L3Harris Technologies by 4.6% in the third quarter. Northern Trust Corp now owns 1,570,639 shares of the company’s stock worth $273,480,000 after purchasing an additional 68,545 shares in the last quarter. Invesco Ltd. raised its holdings in L3Harris Technologies by 15.3% in the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock worth $254,187,000 after purchasing an additional 193,690 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in L3Harris Technologies by 22.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after purchasing an additional 266,468 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 3.5 %

L3Harris Technologies stock opened at $214.54 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The stock has a market capitalization of $40.79 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 1.93 and a beta of 0.65. The business’s fifty day moving average is $210.16 and its 200 day moving average is $201.44.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same period last year, the firm posted $2.86 earnings per share. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $1.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.64 annualized dividend and a yield of 2.16%. L3Harris Technologies’s payout ratio is 75.32%.

Insiders Place Their Bets

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the transaction, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,362 shares of company stock valued at $10,261,360. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. Raymond James raised their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Royal Bank of Canada raised their price target on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Citigroup raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, UBS Group raised their price target on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $229.60.

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.