Advisors Asset Management Inc. Trims Position in L3Harris Technologies Inc $LHX

Advisors Asset Management Inc. reduced its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 15.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,304 shares of the company’s stock after selling 4,779 shares during the quarter. Advisors Asset Management Inc.’s holdings in L3Harris Technologies were worth $8,034,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Stratos Wealth Advisors LLC purchased a new stake in L3Harris Technologies during the third quarter valued at approximately $246,000. Stratos Investment Management LLC raised its holdings in L3Harris Technologies by 1.1% in the 3rd quarter. Stratos Investment Management LLC now owns 12,636 shares of the company’s stock worth $3,859,000 after purchasing an additional 135 shares during the period. Baader Bank Aktiengesellschaft purchased a new position in L3Harris Technologies during the third quarter valued at $775,000. Rockland Trust Co. bought a new stake in L3Harris Technologies during the third quarter valued at about $258,000. Finally, Wealthfront Advisers LLC increased its position in L3Harris Technologies by 6.7% in the third quarter. Wealthfront Advisers LLC now owns 12,005 shares of the company’s stock worth $3,666,000 after buying an additional 750 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Royal Bank Of Canada raised their target price on shares of L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, January 30th. Vertical Research restated a “buy” rating and issued a $355.00 price objective on shares of L3Harris Technologies in a research report on Tuesday, January 13th. Truist Financial set a $364.00 target price on L3Harris Technologies in a research report on Wednesday, January 14th. Finally, Weiss Ratings raised L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $328.57.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Samir Mehta sold 4,840 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $338.85, for a total value of $1,640,034.00. Following the transaction, the insider directly owned 5,916 shares of the company’s stock, valued at $2,004,636.60. This represents a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Down 1.4%

Shares of LHX stock opened at $340.35 on Thursday. The stock’s fifty day moving average price is $319.17 and its 200 day moving average price is $295.94. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $369.59. The company has a market cap of $63.66 billion, a price-to-earnings ratio of 39.90, a price-to-earnings-growth ratio of 2.49 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02.

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

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a $1.25 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s dividend payout ratio is 58.62%.

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.