Axxcess Wealth Management LLC Has $1.08 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Axxcess Wealth Management LLC reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 23.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,110 shares of the company's stock after selling 1,585 shares during the period. Axxcess Wealth Management LLC's holdings in L3Harris Technologies were worth $1,075,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new stake in L3Harris Technologies during the fourth quarter worth about $75,000. Cibc World Markets Corp increased its position in shares of L3Harris Technologies by 16.3% during the 4th quarter. Cibc World Markets Corp now owns 29,960 shares of the company's stock worth $6,300,000 after purchasing an additional 4,194 shares during the last quarter. SouthState Corp raised its stake in shares of L3Harris Technologies by 0.8% during the 4th quarter. SouthState Corp now owns 57,844 shares of the company's stock worth $12,163,000 after purchasing an additional 474 shares in the last quarter. Glenview Trust co acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $274,000. Finally, Globeflex Capital L P bought a new position in shares of L3Harris Technologies in the fourth quarter valued at $105,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Up 1.4 %

Shares of LHX stock traded up $2.90 on Monday, hitting $210.88. The company had a trading volume of 861,549 shares, compared to its average volume of 921,613. The stock's 50-day moving average is $209.74 and its two-hundred day moving average is $225.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a market cap of $39.59 billion, a P/E ratio of 26.80, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74.

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L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $1.20 per share. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.28%. L3Harris Technologies's dividend payout ratio is presently 60.99%.

Insider Buying and Selling

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 transaction, the insider now 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares of the company's stock, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,334 shares of company stock valued at $1,383,709 over the last 90 days. Company insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Susquehanna lowered their price target on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Citigroup reduced their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Barclays cut their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, January 6th. UBS Group upped their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Finally, Morgan Stanley dropped their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $261.40.

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.