Graypoint LLC Cuts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Graypoint LLC decreased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 29.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,528 shares of the company’s stock after selling 1,042 shares during the quarter. Graypoint LLC’s holdings in L3Harris Technologies were worth $532,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Caprock Group LLC purchased a new stake in shares of L3Harris Technologies during the second quarter worth $260,000. Ashton Thomas Private Wealth LLC acquired a new stake in L3Harris Technologies in the 2nd quarter valued at about $57,000. Johnson Investment Counsel Inc. boosted its stake in shares of L3Harris Technologies by 6.2% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 5,101 shares of the company’s stock valued at $1,146,000 after buying an additional 299 shares during the period. BOKF NA grew its position in shares of L3Harris Technologies by 8.3% during the second quarter. BOKF NA now owns 17,278 shares of the company’s stock worth $3,880,000 after buying an additional 1,328 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.5 %

NYSE:LHX opened at $208.20 on Friday. The firm has a market cap of $39.49 billion, a P/E ratio of 32.89, a PEG ratio of 1.86 and a beta of 0.75. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The stock’s 50 day simple moving average is $231.09 and its 200-day simple moving average is $233.30. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. L3Harris Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.19 EPS. Equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Analyst Ratings Changes

Several research analysts have commented on the stock. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Truist Financial increased their target price on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Finally, Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $266.31.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction on 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 owns 5,049 shares in the company, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders sold 7,889 shares of company stock valued at $1,800,572. Corporate insiders own 0.82% of the company’s stock.

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.