Kingswood Wealth Advisors LLC Sells 2,397 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Kingswood Wealth Advisors LLC reduced its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 34.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,595 shares of the company’s stock after selling 2,397 shares during the period. Kingswood Wealth Advisors LLC’s holdings in L3Harris Technologies were worth $979,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in L3Harris Technologies by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after acquiring an additional 2,692,771 shares during the last quarter. Capital World Investors raised its holdings in shares of L3Harris Technologies by 26.0% in the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after buying an additional 3,308,506 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in L3Harris Technologies by 0.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,585,362 shares of the company’s stock worth $2,018,870,000 after acquiring an additional 40,448 shares during the last quarter. Wells Fargo & Company MN increased its position in L3Harris Technologies by 2.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock valued at $1,084,176,000 after acquiring an additional 101,708 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Down 0.5 %

Shares of L3Harris Technologies stock traded down $1.03 on Wednesday, hitting $223.48. The company had a trading volume of 447,288 shares, compared to its average volume of 999,481. The firm has a market capitalization of $42.39 billion, a P/E ratio of 36.32, a P/E/G ratio of 1.88 and a beta of 0.71. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $228.13. The stock has a 50-day moving average of $218.45 and a 200-day moving average of $212.40. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80.

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

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Tuesday, June 4th. L3Harris Technologies’s payout ratio is 75.32%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the transaction, the vice president now directly owns 14,186 shares in the company, valued at $3,074,531.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares in the company, valued at approximately $3,074,531.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,898 shares of company stock valued at $18,558,167. 0.82% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on LHX shares. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research note on Monday, April 22nd. Royal Bank of Canada boosted their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. raised their price target on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Barclays raised their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, Wells Fargo & Company upped their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $231.80.

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.