Roberts Glore & Co. Inc. IL Sells 641 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Roberts Glore & Co. Inc. IL lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 11.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,051 shares of the company’s stock after selling 641 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in L3Harris Technologies were worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in LHX. QRG Capital Management Inc. raised its stake in L3Harris Technologies by 19.4% in the 3rd quarter. QRG Capital Management Inc. now owns 3,001 shares of the company’s stock valued at $714,000 after acquiring an additional 487 shares during the period. Principal Financial Group Inc. raised its stake in L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after acquiring an additional 4,321 shares during the period. Summit Global Investments acquired a new position in L3Harris Technologies in the 3rd quarter valued at $334,000. Equitable Trust Co. increased its position in L3Harris Technologies by 28.5% during the 3rd quarter. Equitable Trust Co. now owns 3,842 shares of the company’s stock worth $914,000 after buying an additional 851 shares during the period. Finally, Assetmark Inc. lifted its holdings in shares of L3Harris Technologies by 0.6% during the third quarter. Assetmark Inc. now owns 17,656 shares of the company’s stock worth $4,200,000 after buying an additional 100 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the sale, the insider now owns 8,576 shares in the company, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 4,901 shares of company stock worth $1,059,757 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE LHX opened at $220.47 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $41.52 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 2.42 and a beta of 0.74. The firm’s 50 day simple moving average is $208.94 and its 200 day simple moving average is $227.64. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74.

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

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a $1.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a yield of 2.18%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LHX. Bank of America dropped their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada restated a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Morgan Stanley decreased their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $261.40.

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.