Asset Planning Services Inc. LA ADV Sells 1,450 Shares of L3Harris Technologies Inc $LHX

Asset Planning Services Inc. LA ADV lessened its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,935 shares of the company’s stock after selling 1,450 shares during the period. L3Harris Technologies comprises 2.8% of Asset Planning Services Inc. LA ADV’s holdings, making the stock its 17th largest position. Asset Planning Services Inc. LA ADV’s holdings in L3Harris Technologies were worth $6,439,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in L3Harris Technologies by 1,053.9% during the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after purchasing an additional 1,079,474 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of L3Harris Technologies by 8,284.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock valued at $194,482,000 after purchasing an additional 766,075 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of L3Harris Technologies during the 3rd quarter valued at about $211,703,000. Two Sigma Investments LP raised its holdings in shares of L3Harris Technologies by 560.7% during the 3rd quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock valued at $187,609,000 after buying an additional 521,312 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in L3Harris Technologies by 155.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,350 shares of the company’s stock worth $155,107,000 after buying an additional 376,499 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, insider Samir Mehta sold 5,528 shares of L3Harris Technologies stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Melanie Rakita sold 2,378 shares of L3Harris Technologies stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $341.45, for a total value of $811,968.10. Following the completion of the sale, the vice president owned 4,882 shares of the company’s stock, valued at $1,666,958.90. The trade was a 32.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 19,025 shares of company stock worth $6,824,370 in the last three months. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their price objective on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Argus upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, February 27th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, February 6th. Wall Street Zen lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings raised L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $334.62.

L3Harris Technologies Stock Performance

Shares of LHX opened at $356.78 on Friday. The company has a 50-day simple moving average of $354.26 and a two-hundred day simple moving average of $316.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. The firm has a market capitalization of $66.64 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 2.55 and a beta of 0.62. L3Harris Technologies Inc has a one year low of $195.72 and a one year high of $379.23.

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

L3Harris Technologies Increases Dividend

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

L3Harris Technologies 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.