Ritholtz Wealth Management Has $2.31 Million Stock Position in L3Harris Technologies Inc $LHX

Ritholtz Wealth Management grew its stake in L3Harris Technologies Inc (NYSE:LHX) by 52.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,865 shares of the company’s stock after purchasing an additional 2,719 shares during the quarter. Ritholtz Wealth Management’s holdings in L3Harris Technologies were worth $2,309,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in LHX. Brighton Jones LLC lifted its stake in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares during the period. Jump Financial LLC lifted its stake in shares of L3Harris Technologies by 14.9% in the 2nd quarter. Jump Financial LLC now owns 2,995 shares of the company’s stock valued at $751,000 after purchasing an additional 388 shares during the period. NewEdge Advisors LLC lifted its stake in shares of L3Harris Technologies by 14.2% in the 2nd quarter. NewEdge Advisors LLC now owns 17,082 shares of the company’s stock valued at $4,285,000 after purchasing an additional 2,130 shares during the period. Nebula Research & Development LLC acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at $856,000. Finally, CIBC Asset Management Inc lifted its stake in shares of L3Harris Technologies by 116.2% in the 2nd quarter. CIBC Asset Management Inc now owns 61,988 shares of the company’s stock valued at $15,549,000 after purchasing an additional 33,321 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on LHX shares. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. 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 report on Monday, February 2nd. Finally, 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. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $349.55.

L3Harris Technologies Price Performance

LHX stock opened at $353.61 on Monday. The stock has a 50-day moving average price of $354.54 and a two-hundred day moving average price of $319.82. The stock has a market cap of $66.05 billion, a PE ratio of 41.45, a price-to-earnings-growth ratio of 1.79 and a beta of 0.62. 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 Inc has a 1 year low of $208.11 and a 1 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. The firm 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%.The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.47 EPS. Equities analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio is 58.62%.

Insider Activity

In other news, insider Jon Rambeau sold 5,528 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 $2,047,128.96. Following the completion of the transaction, the insider owned 7,660 shares in the company, valued at $2,836,651.20. This trade represents a 41.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Melanie Rakita sold 2,378 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $341.45, for a total value of $811,968.10. Following the completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 19,025 shares of company stock worth $6,824,370 in the last quarter. Corporate insiders own 0.68% of the company’s stock.

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.