Proficio Capital Partners LLC Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Proficio Capital Partners LLC bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 119,229 shares of the company's stock, valued at approximately $25,071,000. Proficio Capital Partners LLC owned approximately 0.06% of L3Harris Technologies as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. M&T Bank Corp grew its holdings in shares of L3Harris Technologies by 1.7% in the fourth quarter. M&T Bank Corp now owns 13,503 shares of the company's stock valued at $2,840,000 after acquiring an additional 232 shares in the last quarter. Assetmark Inc. lifted its stake in L3Harris Technologies by 5.2% in the fourth quarter. Assetmark Inc. now owns 18,572 shares of the company's stock valued at $3,905,000 after purchasing an additional 916 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at approximately $425,000. Laffer Tengler Investments Inc. lifted its stake in L3Harris Technologies by 21.6% in the fourth quarter. Laffer Tengler Investments Inc. now owns 29,487 shares of the company's stock valued at $6,201,000 after purchasing an additional 5,246 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in L3Harris Technologies by 132.4% in the fourth quarter. Victory Capital Management Inc. now owns 280,540 shares of the company's stock valued at $58,992,000 after purchasing an additional 159,806 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

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L3Harris Technologies Price Performance

LHX traded down $0.52 during trading on Tuesday, reaching $212.46. The stock had a trading volume of 973,830 shares, compared to its average volume of 924,414. The business has a 50-day moving average of $209.44 and a 200-day moving average of $226.84. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The stock has a market cap of $39.88 billion, a PE ratio of 27.00, a PEG ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.20 per share. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies's dividend payout ratio (DPR) is 60.99%.

Analyst Ratings Changes

LHX has been the topic of several research analyst reports. Susquehanna dropped their price objective on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. dropped their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Truist Financial dropped their target price 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. Raymond James cut shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Finally, Bank of America decreased their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $261.40.

Insider Activity

In other news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction 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 represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ross Niebergall sold 1,373 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,098 shares of company stock valued at $1,760,588. 0.82% of the stock is currently owned by insiders.

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.