Wedgewood Investors Inc. PA Sells 130 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Wedgewood Investors Inc. PA trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,173 shares of the company’s stock after selling 130 shares during the period. L3Harris Technologies accounts for approximately 1.4% of Wedgewood Investors Inc. PA’s portfolio, making the stock its 17th largest holding. Wedgewood Investors Inc. PA’s holdings in L3Harris Technologies were worth $1,090,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Mondrian Investment Partners LTD increased its position in L3Harris Technologies by 32,907.5% during the 3rd quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock worth $66,208,000 after purchasing an additional 379,094 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in L3Harris Technologies by 53.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock valued at $179,709,000 after buying an additional 296,654 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in L3Harris Technologies by 22.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after buying an additional 266,468 shares during the period. Mizuho Markets Americas LLC bought a new stake in L3Harris Technologies during the 3rd quarter worth approximately $35,207,000. Finally, Invesco Ltd. raised its stake in shares of L3Harris Technologies by 15.3% during the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock valued at $254,187,000 after acquiring an additional 193,690 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday. Citigroup boosted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. UBS Group upped their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Barclays boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.50.

Insider Activity at L3Harris Technologies

In related news, Director William H. Swanson acquired 1,250 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $215.35 per share, with a total value of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded up $0.02 during trading on Wednesday, hitting $214.07. 120,697 shares of the company’s stock traded hands, compared to its average volume of 1,118,370. 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 stock has a market capitalization of $40.60 billion, a P/E ratio of 34.65, a PEG ratio of 2.00 and a beta of 0.65. The business has a 50-day simple moving average of $210.30 and a 200-day simple moving average of $202.18. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $218.34.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.86 earnings per share. As a group, analysts forecast that L3Harris Technologies, Inc. will post 12.83 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.17%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.