L3Harris Technologies, Inc. (NYSE:LHX) Stake Lowered by Duncker Streett & Co. Inc.

Duncker Streett & Co. Inc. reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,925 shares of the company’s stock after selling 924 shares during the period. Duncker Streett & Co. Inc.’s holdings in L3Harris Technologies were worth $2,722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kentucky Retirement Systems acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at $2,642,000. GDS Wealth Management increased its stake in L3Harris Technologies by 184.5% in the third quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock valued at $15,692,000 after acquiring an additional 58,441 shares during the period. Sapient Capital LLC bought a new stake in L3Harris Technologies in the fourth quarter valued at about $1,198,000. Bruce G. Allen Investments LLC bought a new stake in L3Harris Technologies in the fourth quarter valued at about $46,000. Finally, Ceredex Value Advisors LLC grew its stake in L3Harris Technologies by 14.1% during the third quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock worth $117,315,000 after buying an additional 83,319 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director William H. Swanson acquired 1,250 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 over the last three months. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Down 1.4 %

NYSE LHX traded down $2.88 during trading hours on Wednesday, hitting $200.34. 915,221 shares of the company traded hands, compared to its average volume of 1,069,702. The business’s 50-day moving average is $210.70 and its 200-day moving average is $199.57. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. The stock has a market capitalization of $38.09 billion, a price-to-earnings ratio of 31.12, a P/E/G ratio of 1.89 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the firm posted $3.27 earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date was Thursday, March 7th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

Wall Street Analysts Forecast Growth

LHX has been the topic of several research analyst reports. TheStreet raised shares of L3Harris Technologies from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. Raymond James raised their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective on the stock in a research report on Thursday, January 11th. Finally, StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $229.00.

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.