Moran Wealth Management LLC Lowers Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Moran Wealth Management LLC trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 93.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,419 shares of the company's stock after selling 19,065 shares during the period. Moran Wealth Management LLC's holdings in L3Harris Technologies were worth $298,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LHX. Geode Capital Management LLC boosted its stake in L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company's stock worth $1,122,630,000 after buying an additional 59,008 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in L3Harris Technologies in the fourth quarter worth approximately $398,507,000. Massachusetts Financial Services Co. MA boosted its stake in L3Harris Technologies by 5.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company's stock worth $366,875,000 after buying an additional 85,882 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of L3Harris Technologies by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company's stock valued at $254,461,000 after purchasing an additional 32,979 shares during the period. Finally, Mizuho Markets Americas LLC boosted its stake in shares of L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock valued at $195,704,000 after purchasing an additional 166,262 shares during the period. 84.76% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

LHX has been the subject of a number of analyst reports. UBS Group increased their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Truist Financial dropped their price objective on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Citigroup dropped their price target on L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Finally, Morgan Stanley dropped their price target on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $261.40.

L3Harris Technologies Stock Up 0.1 %

Shares of NYSE:LHX traded up $0.24 on Friday, hitting $211.42. 960,650 shares of the company traded hands, compared to its average volume of 923,924. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. 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 stock has a 50 day simple moving average of $209.26 and a 200-day simple moving average of $227.02. The company has a market cap of $39.69 billion, a PE ratio of 26.86, a PEG ratio of 2.42 and a beta of 0.74.

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

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.27%. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies's dividend payout ratio (DPR) is presently 60.99%.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated 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 approximately $632,122. This trade represents a 53.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ross Niebergall sold 1,373 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,862 shares of company stock worth $2,155,054. 0.82% of the stock is owned by corporate insiders.

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.