L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by EntryPoint Capital LLC

EntryPoint Capital LLC reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 16.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,579 shares of the company’s stock after selling 313 shares during the period. EntryPoint Capital LLC’s holdings in L3Harris Technologies were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Measured Wealth Private Client Group LLC lifted its position in L3Harris Technologies by 5.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock worth $200,000 after purchasing an additional 50 shares during the period. Avestar Capital LLC boosted its stake in L3Harris Technologies by 4.2% during the third quarter. Avestar Capital LLC now owns 1,255 shares of the company’s stock valued at $299,000 after buying an additional 51 shares in the last quarter. Premier Path Wealth Partners LLC boosted its stake in L3Harris Technologies by 3.4% during the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock valued at $328,000 after buying an additional 51 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in L3Harris Technologies by 2.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock valued at $514,000 after acquiring an additional 53 shares during the last quarter. Finally, Klingman & Associates LLC boosted its holdings in L3Harris Technologies by 2.8% during the fourth quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock worth $406,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX opened at $211.97 on Thursday. The stock has a market capitalization of $39.79 billion, a PE ratio of 26.93, a P/E/G ratio of 2.42 and a beta of 0.74. The stock has a 50-day simple moving average of $209.66 and a 200 day simple moving average of $225.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74.

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

L3Harris Technologies Increases Dividend

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

Insider Activity

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred 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 sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,334 shares of company stock valued at $1,383,709. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LHX. Morgan Stanley dropped their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company cut their price target on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Bank of America lowered their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. cut their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

About L3Harris Technologies

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.