L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Wintrust Investments LLC

Wintrust Investments LLC lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 28.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 839 shares of the company’s stock after selling 340 shares during the period. Wintrust Investments LLC’s holdings in L3Harris Technologies were worth $176,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LHX. Avantax Advisory Services Inc. increased its holdings in shares of L3Harris Technologies by 3.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 18,037 shares of the company’s stock valued at $3,793,000 after acquiring an additional 576 shares during the last quarter. Essential Planning LLC. acquired a new position in L3Harris Technologies in the fourth quarter valued at approximately $1,786,000. Great Lakes Advisors LLC increased its stake in L3Harris Technologies by 3.8% in the fourth quarter. Great Lakes Advisors LLC now owns 26,024 shares of the company’s stock valued at $5,472,000 after purchasing an additional 961 shares during the last quarter. Truvestments Capital LLC raised its holdings in L3Harris Technologies by 7.4% during the fourth quarter. Truvestments Capital LLC now owns 14,182 shares of the company’s stock worth $2,982,000 after purchasing an additional 974 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of L3Harris Technologies by 135.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,938 shares of the company’s stock valued at $407,000 after buying an additional 1,114 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 1.4 %

NYSE:LHX opened at $209.28 on Thursday. The stock has a market capitalization of $39.41 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The stock has a fifty day moving average price of $209.15 and a two-hundred day moving average price of $227.28. 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 released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping 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, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a $1.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.29%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,862 shares of company stock worth $2,155,054. 0.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on LHX. Morgan Stanley reduced their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a 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. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $240.00 price objective 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target 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.