Cutter & CO Brokerage Inc. Sells 258 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Cutter & CO Brokerage Inc. reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,210 shares of the company’s stock after selling 258 shares during the period. L3Harris Technologies accounts for 1.1% of Cutter & CO Brokerage Inc.’s portfolio, making the stock its 20th largest position. Cutter & CO Brokerage Inc.’s holdings in L3Harris Technologies were worth $3,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of LHX. GAMMA Investing LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $180,000. Linden Thomas Advisory Services LLC increased its position in shares of L3Harris Technologies by 6.3% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 8,215 shares of the company’s stock valued at $1,730,000 after acquiring an additional 488 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of L3Harris Technologies by 13.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after acquiring an additional 58 shares in the last quarter. PDS Planning Inc bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $235,000. Finally, California Public Employees Retirement System increased its position in shares of L3Harris Technologies by 0.4% during the fourth quarter. California Public Employees Retirement System now owns 959,285 shares of the company’s stock valued at $202,045,000 after acquiring an additional 3,525 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the sale, the insider now directly owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other L3Harris Technologies news, Director William H. Swanson purchased 1,250 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the acquisition, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the transaction, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 in the last three months. 0.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LHX. Royal Bank of Canada raised their price target on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Raymond James lifted their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. UBS Group lifted their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research report on Monday. Finally, StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $229.60.

L3Harris Technologies Price Performance

NYSE LHX traded down $0.52 during mid-day trading on Tuesday, hitting $207.62. The stock had a trading volume of 850,718 shares, compared to its average volume of 1,114,118. The firm’s 50 day moving average is $210.24 and its 200 day moving average is $200.64. 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 current ratio of 1.01 and a quick ratio of 0.82. The stock has a market capitalization of $39.47 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 1.91 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data 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 the consensus estimate of $5.28 billion. During the same period in the prior year, the company earned $3.27 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. Equities research analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.23%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

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.