Fragasso Financial Advisors Inc Cuts Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Fragasso Financial Advisors Inc trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,327 shares of the company’s stock after selling 1,752 shares during the period. Fragasso Financial Advisors Inc’s holdings in L3Harris Technologies were worth $4,485,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. KCM Investment Advisors LLC boosted its stake in shares of L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after purchasing an additional 5,868 shares during the period. Fortem Financial Group LLC acquired a new position in L3Harris Technologies in the third quarter worth about $841,000. Sanctuary Advisors LLC lifted its stake in L3Harris Technologies by 13.9% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $7,602,000 after purchasing an additional 3,740 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after buying an additional 4,321 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after acquiring an additional 178,407 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 7,889 shares of company stock valued at $1,800,572 in the last three months. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 2.4 %

L3Harris Technologies stock traded up $5.03 during mid-day trading on Monday, hitting $213.31. The company’s stock had a trading volume of 481,106 shares, compared to its average volume of 1,181,801. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 52-week low of $200.18 and a 52-week high of $265.74. The firm’s 50 day moving average is $231.09 and its 200 day moving average is $233.37. The company has a market cap of $40.46 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.19 earnings per share. On average, analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.18%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s payout ratio is currently 73.30%.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company lowered their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Barclays lowered their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $266.31.

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.