Premier Path Wealth Partners LLC Cuts Holdings in L3Harris Technologies Inc (NYSE:LHX)

Premier Path Wealth Partners LLC reduced its position in L3Harris Technologies Inc (NYSE:LHX) by 8.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,425 shares of the company’s stock after selling 136 shares during the period. Premier Path Wealth Partners LLC’s holdings in L3Harris Technologies were worth $298,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. increased its stake in L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. Millstone Evans Group LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $27,000. Beacon Capital Management LLC increased its stake in L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after buying an additional 111 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the transaction, the chief executive officer now owns 145,572 shares in the company, valued at $36,171,730.56. The trade was a 18.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider now owns 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on LHX shares. Jefferies Financial Group lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. UBS Group increased their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Citigroup increased their target price on L3Harris Technologies from $245.00 to $280.00 and gave the company a “buy” rating in a report on Monday, June 9th. The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and increased their target price for the company from $198.00 to $263.00 in a report on Friday, April 11th. Finally, Wells Fargo & Company lowered their target price on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $258.75.

L3Harris Technologies Price Performance

LHX stock opened at $249.56 on Friday. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $265.74. The stock’s fifty day simple moving average is $231.54 and its 200-day simple moving average is $218.63. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $46.66 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 1.98 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the company posted $3.06 EPS. Equities research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is currently 56.94%.

L3Harris Technologies 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.