L3Harris Technologies Inc $LHX Shares Acquired by GHP Investment Advisors Inc.

Key Points

• GHP Investment Advisors increased its stake in L3Harris by 10.1% in Q4, adding 3,747 shares to hold 41,025 shares valued at $12.04 million, while other institutions also boosted positions and total institutional ownership is 84.76%.
• Insider selling was significant: Samir Mehta and Jon Rambeau each sold 5,528 shares on March 2 (roughly a 41% reduction in their holdings), and insiders sold 19,025 shares worth $6.82 million over the past three months.
• L3Harris beat Q4 EPS estimates ($2.86 vs. $2.76), raised its quarterly dividend to $1.25 ($5.00 annual, 1.4% yield), and carries a consensus Wall Street rating of "Moderate Buy" with an average target near $349.55 (Citigroup raised its target to $418).

GHP Investment Advisors Inc. lifted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,025 shares of the company's stock after buying an additional 3,747 shares during the period. GHP Investment Advisors Inc.'s holdings in L3Harris Technologies were worth $12,044,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. First Horizon Corp acquired a new stake in L3Harris Technologies in the third quarter valued at about $10,667,000. Merit Financial Group LLC lifted its position in L3Harris Technologies by 55.9% in the third quarter. Merit Financial Group LLC now owns 9,989 shares of the company's stock valued at $3,051,000 after purchasing an additional 3,583 shares during the period. Korea Investment CORP lifted its position in L3Harris Technologies by 11.2% in the third quarter. Korea Investment CORP now owns 153,567 shares of the company's stock valued at $46,901,000 after purchasing an additional 15,408 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in L3Harris Technologies by 13.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company's stock valued at $9,230,000 after purchasing an additional 3,532 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in L3Harris Technologies by 32.6% in the third quarter. Oregon Public Employees Retirement Fund now owns 21,324 shares of the company's stock valued at $6,513,000 after purchasing an additional 5,239 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 5,528 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the transaction, the insider directly owned 7,756 shares of the company's stock, valued at approximately $2,872,201.92. This trade represents a 41.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jon Rambeau sold 5,528 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the transaction, the insider directly owned 7,660 shares of the company's stock, valued at approximately $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 19,025 shares of company stock valued at $6,824,370. Corporate insiders own 0.68% of the company's stock.

L3Harris Technologies Trading Down 1.0%

Shares of L3Harris Technologies stock opened at $349.76 on Friday. L3Harris Technologies Inc has a 12-month low of $208.11 and a 12-month high of $379.23. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market cap of $65.33 billion, a PE ratio of 41.00, a price-to-earnings-growth ratio of 1.79 and a beta of 0.62. The company has a 50-day moving average of $355.54 and a two-hundred day moving average of $321.58.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.76 billion. During the same period last year, the company posted $3.47 earnings per share. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Friday, March 6th. L3Harris Technologies's dividend payout ratio is 58.62%.

Wall Street Analyst Weigh In

LHX has been the subject of a number of recent analyst reports. Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a research report on Friday, February 6th. Susquehanna restated a "positive" rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. Wolfe Research restated an "outperform" rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Vertical Research restated a "buy" rating and issued a $355.00 price objective on shares of L3Harris Technologies in a research report on Tuesday, January 13th. Finally, Citigroup raised their price objective on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $349.55.

L3Harris Technologies Profile

L3Harris Technologies NYSE: LHX is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company's offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.

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