New Century Financial Group LLC Decreases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

New Century Financial Group LLC trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 18.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,110 shares of the company’s stock after selling 467 shares during the quarter. New Century Financial Group LLC’s holdings in L3Harris Technologies were worth $450,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth $28,000. KB Financial Partners LLC grew its stake in L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares in the last quarter. Blue Trust Inc. raised its holdings in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after acquiring an additional 109 shares during the last quarter. Washington Trust Advisors Inc. lifted its stake in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $46,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

LHX traded up $0.98 on Thursday, reaching $224.58. The company had a trading volume of 422,248 shares, compared to its average volume of 723,384. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $228.13. The stock has a market capitalization of $42.60 billion, a PE ratio of 36.46, a P/E/G ratio of 1.87 and a beta of 0.72. The stock has a 50-day moving average price of $220.62 and a 200-day moving average price of $213.13.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.86 EPS. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 12.93 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.07%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Wall Street Analysts Forecast Growth

LHX has been the subject of several recent research reports. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a report on Monday, April 22nd. Barclays lifted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Royal Bank of Canada raised their price objective on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Wells Fargo & Company lifted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.80.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,086,585.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the sale, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,157,578.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total value of $5,627,750.00. Following the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,086,585.86. The disclosure for this sale can be found here. Insiders have sold 82,898 shares of company stock worth $18,558,167 in the last quarter. Company insiders own 0.87% of the company’s stock.

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.