44 Wealth Management LLC Has $1.33 Million Position in L3Harris Technologies Inc $LHX

44 Wealth Management LLC reduced its position in L3Harris Technologies Inc (NYSE:LHX) by 51.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,343 shares of the company’s stock after selling 4,619 shares during the quarter. 44 Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Caitlin John LLC bought a new position in L3Harris Technologies in the third quarter valued at about $28,000. GGM Financials LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at $32,000. Salomon & Ludwin LLC bought a new stake in L3Harris Technologies during the third quarter valued at $34,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of L3Harris Technologies during the 2nd quarter valued at about $34,000. Finally, Copia Wealth Management grew its position in shares of L3Harris Technologies by 1,842.9% during the 3rd quarter. Copia Wealth Management now owns 136 shares of the company’s stock worth $42,000 after buying an additional 129 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $358.66 on Friday. The firm has a market cap of $66.99 billion, a P/E ratio of 42.05, a P/E/G ratio of 2.59 and a beta of 0.63. The firm’s fifty day moving average is $349.12 and its 200 day moving average is $308.84. 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 Inc has a 52 week low of $195.72 and a 52 week high of $379.23.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter last year, the business earned $3.47 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $1.25 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio is 58.62%.

Insider Activity

In other L3Harris Technologies news, VP Melanie Rakita sold 2,378 shares of L3Harris Technologies stock in a transaction on Thursday, February 26th. The stock was 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 in the company, valued at approximately $1,666,958.90. The trade was a 32.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samir Mehta sold 5,528 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 7,756 shares in the company, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 19,025 shares of company stock worth $6,824,370. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of research reports. TD Cowen reissued a “buy” rating on shares of L3Harris Technologies in a research note on Monday, January 5th. Truist Financial set a $364.00 price objective on shares of L3Harris Technologies in a research report on Wednesday, January 14th. Weiss Ratings raised L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. JPMorgan Chase & Co. lifted their price target on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Finally, Wall Street Zen cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $328.57.

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.