Wellington Shields & Co. LLC Sells 306 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Wellington Shields & Co. LLC decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 24.4% during the 4th quarter, Holdings Channel reports. The firm owned 948 shares of the company’s stock after selling 306 shares during the quarter. Wellington Shields & Co. LLC’s holdings in L3Harris Technologies were worth $199,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LHX. Raymond James Financial Inc. bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $398,507,000. National Pension Service boosted its position in shares of L3Harris Technologies by 42.1% during the 4th quarter. National Pension Service now owns 606,047 shares of the company’s stock valued at $127,440,000 after purchasing an additional 179,539 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after acquiring an additional 178,407 shares in the last quarter. Mizuho Markets Americas LLC boosted its holdings in L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after acquiring an additional 166,262 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in L3Harris Technologies by 132.4% in the fourth quarter. Victory Capital Management Inc. now owns 280,540 shares of the company’s stock worth $58,992,000 after acquiring an additional 159,806 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft cut their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company cut their price target on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Susquehanna cut their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,862 shares of company stock valued at $2,155,054 over the last ninety days. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

Shares of LHX opened at $211.42 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $39.69 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.42 and a beta of 0.74. The stock has a 50 day moving average of $209.26 and a 200 day moving average of $227.04. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, sell-side analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a $1.20 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

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.