L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Howe & Rusling Inc.

Howe & Rusling Inc. lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 20.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 18,884 shares of the company’s stock after selling 4,774 shares during the quarter. Howe & Rusling Inc.’s holdings in L3Harris Technologies were worth $3,971,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in L3Harris Technologies during the 4th quarter valued at approximately $398,507,000. Vanguard Group Inc. raised its holdings in shares of L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the last quarter. Boston Partners lifted its position in L3Harris Technologies by 20.2% during the fourth quarter. Boston Partners now owns 1,178,741 shares of the company’s stock valued at $247,893,000 after purchasing an additional 198,243 shares during the period. National Pension Service boosted its holdings in L3Harris Technologies by 42.1% in the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock valued at $127,440,000 after purchasing an additional 179,539 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a report on Friday, March 7th. JPMorgan Chase & Co. decreased their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Morgan Stanley cut their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,334 shares of company stock valued at $1,383,709. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

NYSE:LHX opened at $211.97 on Thursday. The stock has a 50 day moving average of $209.66 and a two-hundred day moving average of $225.78. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The firm has a market cap of $39.79 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.26%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.