Farther Finance Advisors LLC Cuts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Farther Finance Advisors LLC decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 47.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,378 shares of the company's stock after selling 1,268 shares during the period. Farther Finance Advisors LLC's holdings in L3Harris Technologies were worth $290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $27,000. Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $30,000. Union Bancaire Privee UBP SA bought a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $33,000. New Millennium Group LLC boosted its position in shares of L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company's stock worth $39,000 after purchasing an additional 163 shares in the last quarter. Finally, Trust Co. of Vermont boosted its position in shares of L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company's stock worth $41,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the company's stock in a transaction on Monday, March 10th. The stock was 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 directly owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 sale, the insider now owns 6,812 shares of the company's stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,098 shares of company stock worth $1,760,588 in the last three months. Corporate insiders own 0.72% of the company's stock.

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L3Harris Technologies Stock Performance

LHX traded down $1.74 during mid-day trading on Friday, reaching $208.15. 1,931,912 shares of the company traded hands, compared to its average volume of 921,511. The stock has a market capitalization of $39.07 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company's fifty day moving average price is $209.80 and its 200-day moving average price is $226.26. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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%. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.31%. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies's dividend payout ratio is 60.99%.

Analyst Ratings Changes

A number of analysts have recently commented on LHX shares. UBS Group boosted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Susquehanna dropped 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. Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and lowered their price objective for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Argus raised L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective on the stock in a research report on Tuesday, November 26th. Finally, Truist Financial lowered their price objective on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently 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.