Ridgewood Investments LLC lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,004 shares of the company’s stock after selling 200 shares during the period. Ridgewood Investments LLC’s holdings in L3Harris Technologies were worth $211,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. KCM Investment Advisors LLC boosted its holdings in 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 acquiring an additional 5,868 shares in the last quarter. Fortem Financial Group LLC bought a new stake in shares of L3Harris Technologies during the 3rd quarter valued at $841,000. Sanctuary Advisors LLC boosted its holdings in shares of L3Harris Technologies by 13.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $7,602,000 after buying an additional 3,740 shares in the last quarter. Principal Financial Group Inc. boosted its holdings 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.
Insider Activity at L3Harris Technologies
In related news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the sale, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 7,889 shares of company stock worth $1,800,572. Company insiders own 0.82% of the company’s stock.
Analyst Ratings Changes
Get Our Latest Research Report on L3Harris Technologies
L3Harris Technologies Price Performance
LHX stock traded down $1.38 during midday trading on Friday, hitting $205.77. The company’s stock had a trading volume of 447,864 shares, compared to its average volume of 1,078,215. L3Harris Technologies, Inc. has a 12 month low of $200.18 and a 12 month high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $39.03 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. The company has a 50 day moving average of $231.88 and a two-hundred day moving average of $233.36.
L3Harris Technologies (NYSE:LHX – Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.19 EPS. On average, analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.
L3Harris Technologies Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a dividend of $1.16 per share. The ex-dividend date was Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 2.25%. L3Harris Technologies’s payout ratio is presently 73.30%.
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.
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