Guyasuta Investment Advisors Inc. Sells 1,221 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Guyasuta Investment Advisors Inc. trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 195,513 shares of the company’s stock after selling 1,221 shares during the quarter. L3Harris Technologies accounts for about 3.0% of Guyasuta Investment Advisors Inc.’s investment portfolio, making the stock its 10th largest holding. Guyasuta Investment Advisors Inc.’s holdings in L3Harris Technologies were worth $41,179,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LHX. KB Financial Partners LLC raised its stake in shares of L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. New England Capital Financial Advisors LLC bought a new stake in shares of L3Harris Technologies in the third quarter worth $35,000. Blue Trust Inc. increased its stake in shares of L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares during the last quarter. Washington Trust Advisors Inc. increased its stake in L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after purchasing an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at $46,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 1.3 %

NYSE LHX traded up $2.75 on Monday, hitting $217.29. 432,775 shares of the company were exchanged, compared to its average volume of 1,117,183. The company’s 50 day moving average price is $210.16 and its 200-day moving average price is $201.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The firm has a market capitalization of $41.31 billion, a P/E ratio of 34.96, a price-to-earnings-growth ratio of 1.99 and a beta of 0.65. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.17. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.86 EPS. Analysts predict that L3Harris Technologies, Inc. will post 12.76 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.14%. L3Harris Technologies’s dividend payout ratio is 75.32%.

Analyst Ratings Changes

Several research firms have weighed in on LHX. StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Citigroup boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target for the company in a report on Thursday, January 11th. Finally, Raymond James upped their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $229.93.

Insider Activity

In other news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the sale, the senior vice president now owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders have sold 48,362 shares of company stock worth $10,261,360 in the last 90 days. Company insiders own 0.87% of the company’s stock.

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.