Valmark Advisers Inc. Sells 51 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Valmark Advisers Inc. reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,285 shares of the company’s stock after selling 51 shares during the quarter. Valmark Advisers Inc.’s holdings in L3Harris Technologies were worth $903,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Argonautica Private Wealth Management Inc. lifted its position in L3Harris Technologies by 1.8% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 8,163 shares of the company’s stock valued at $1,719,000 after acquiring an additional 147 shares in the last quarter. Leeward Investments LLC MA bought a new stake in L3Harris Technologies in the 4th quarter valued at $9,119,000. Stanley Laman Group Ltd. lifted its position in L3Harris Technologies by 8.6% in the 4th quarter. Stanley Laman Group Ltd. now owns 17,362 shares of the company’s stock valued at $3,657,000 after acquiring an additional 1,375 shares in the last quarter. Jackson Hole Capital Partners LLC increased its stake in L3Harris Technologies by 22.8% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 3,525 shares of the company’s stock valued at $742,000 after buying an additional 655 shares during the last quarter. Finally, Syon Capital LLC acquired a new stake in L3Harris Technologies in the 4th quarter valued at $232,000. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott T. Mikuen sold 3,363 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $212.86, for a total transaction of $715,848.18. Following the completion of the sale, the senior vice president now directly owns 55,254 shares of the company’s stock, valued at approximately $11,761,366.44. 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 quarter. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX stock traded up $7.18 during midday trading on Friday, hitting $214.54. 2,133,539 shares of the company were exchanged, compared to its average volume of 1,010,338. The firm has a market capitalization of $40.79 billion, a P/E ratio of 34.83, a PEG ratio of 1.99 and a beta of 0.65. 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 firm’s 50 day moving average price is $210.16 and its two-hundred day moving average price is $201.44. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34.

L3Harris Technologies (NYSE:LHX) last announced 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 business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.86 EPS. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 12.76 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s payout ratio is 75.32%.

Analyst Ratings Changes

Several brokerages have issued reports 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. Wells Fargo & Company lowered their price target 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. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target on the stock in a research note on Thursday, January 11th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research note on Monday, April 22nd. Finally, UBS Group lifted their price target 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. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $229.60.

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.