Associated Banc Corp Sells 215 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Associated Banc Corp decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,813 shares of the company’s stock after selling 215 shares during the quarter. Associated Banc Corp’s holdings in L3Harris Technologies were worth $803,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LHX. Strong Tower Advisory Services boosted its position in L3Harris Technologies by 0.9% in the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after purchasing an additional 49 shares during the last quarter. Blossom Wealth Management raised its stake in shares of L3Harris Technologies by 2.1% in the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after buying an additional 51 shares during the period. JFS Wealth Advisors LLC raised its stake in shares of L3Harris Technologies by 12.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock worth $103,000 after buying an additional 53 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of L3Harris Technologies by 13.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock worth $106,000 after buying an additional 58 shares during the period. Finally, Cassaday & Co Wealth Management LLC raised its stake in L3Harris Technologies by 3.8% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 1,622 shares of the company’s stock valued at $282,000 after purchasing an additional 59 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, Director William H. Swanson acquired 1,250 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares in the company, valued at $332,285.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Scott T. Mikuen sold 1,292 shares of the firm’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 value of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the transaction, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 48,362 shares of company stock valued at $10,261,360. Company insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of several analyst reports. Citigroup boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Wells Fargo & Company upped their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. UBS Group upped their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada upped their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Finally, Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research note on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.80.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded up $0.62 during midday trading on Tuesday, hitting $224.24. 24,301 shares of the company were exchanged, compared to its average volume of 1,065,906. The firm has a market capitalization of $42.53 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 1.87 and a beta of 0.63. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $224.65. The business has a fifty day simple moving average of $211.64 and a two-hundred day simple moving average of $206.24. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 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 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 for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the company earned $2.86 earnings per share. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 12.92 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.07%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies’s payout ratio is currently 75.32%.

About L3Harris Technologies

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.