Aptus Capital Advisors LLC Sells 2,680 Shares of L3Harris Technologies Inc $LHX

Aptus Capital Advisors LLC trimmed its position in L3Harris Technologies Inc (NYSE:LHX) by 15.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 14,328 shares of the company’s stock after selling 2,680 shares during the period. Aptus Capital Advisors LLC’s holdings in L3Harris Technologies were worth $4,376,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in LHX. LOM Asset Management Ltd raised its position in shares of L3Harris Technologies by 5.7% during the third quarter. LOM Asset Management Ltd now owns 5,423 shares of the company’s stock worth $1,656,000 after acquiring an additional 294 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in L3Harris Technologies by 2.2% in the third quarter. Crossmark Global Holdings Inc. now owns 6,642 shares of the company’s stock valued at $2,029,000 after acquiring an additional 140 shares during the last quarter. KCM Investment Advisors LLC boosted its holdings in L3Harris Technologies by 0.9% in the third quarter. KCM Investment Advisors LLC now owns 25,115 shares of the company’s stock valued at $7,670,000 after acquiring an additional 236 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in L3Harris Technologies in the third quarter worth about $212,000. Finally, Amova Asset Management Americas Inc. raised its holdings in L3Harris Technologies by 32.4% during the 3rd quarter. Amova Asset Management Americas Inc. now owns 111,595 shares of the company’s stock worth $34,074,000 after purchasing an additional 27,301 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LHX. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, February 6th. TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. Royal Bank Of Canada increased their price objective on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Finally, Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $328.57.

L3Harris Technologies Price Performance

Shares of LHX opened at $365.83 on Friday. The stock has a market cap of $68.33 billion, a P/E ratio of 42.89, a price-to-earnings-growth ratio of 2.64 and a beta of 0.63. L3Harris Technologies Inc has a 1 year low of $195.72 and a 1 year high of $379.23. The stock’s 50-day moving average price is $342.52 and its two-hundred day moving average price is $305.83. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

L3Harris Technologies (NYSE:LHX) last announced 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. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.L3Harris Technologies’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.47 EPS. On average, equities analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies’s payout ratio is currently 56.27%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Samir Mehta sold 5,528 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the sale, the insider owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. This trade represents a 41.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Melanie Rakita sold 751 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $278,110.32. Following the sale, the vice president directly owned 4,131 shares in the company, valued at approximately $1,529,791.92. This represents a 15.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 19,025 shares of company stock valued at $6,824,370. Corporate insiders own 0.72% of the company’s stock.

About L3Harris Technologies

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.