Dividend Assets Capital LLC Cuts Position in L3Harris Technologies, Inc. (NYSE:LHX)

Dividend Assets Capital LLC reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,638 shares of the company’s stock after selling 151 shares during the quarter. L3Harris Technologies makes up 1.7% of Dividend Assets Capital LLC’s holdings, making the stock its 22nd largest position. Dividend Assets Capital LLC’s holdings in L3Harris Technologies were worth $8,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Cordatus Wealth Management LLC boosted its holdings in shares of L3Harris Technologies by 1.0% in the 4th quarter. Cordatus Wealth Management LLC now owns 7,321 shares of the company’s stock valued at $1,539,000 after buying an additional 69 shares in the last quarter. Nicholson Wealth Management Group LLC lifted its position in L3Harris Technologies by 3.5% during the fourth quarter. Nicholson Wealth Management Group LLC now owns 7,060 shares of the company’s stock valued at $1,485,000 after acquiring an additional 237 shares during the last quarter. Citizens National Bank Trust Department boosted its stake in L3Harris Technologies by 1.3% in the fourth quarter. Citizens National Bank Trust Department now owns 5,758 shares of the company’s stock valued at $1,211,000 after acquiring an additional 75 shares in the last quarter. Zullo Investment Group Inc. grew its holdings in L3Harris Technologies by 3.2% in the fourth quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company’s stock worth $361,000 after purchasing an additional 54 shares during the last quarter. Finally, Boston Financial Mangement LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth $201,000. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

LHX has been the topic of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Citigroup lowered their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

L3Harris Technologies Price Performance

Shares of LHX opened at $199.13 on Friday. The business’s 50-day moving average is $210.26 and its two-hundred day moving average is $229.06. The company has a market capitalization of $37.50 billion, a P/E ratio of 25.30, a P/E/G ratio of 2.39 and a beta of 0.76. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. 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 (NYSE:LHX) last posted its 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%. Research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 4,901 shares of company stock valued at $1,059,757 in the last 90 days. 0.82% of the stock is currently owned by company insiders.

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.