L3Harris Technologies Inc $LHX Shares Sold by Exencial Wealth Advisors LLC

Key Points

• Exencial Wealth Advisors cut its stake in L3Harris by 26.6%, selling 25,745 shares in Q4 and retaining 71,162 shares valued at about $20.89 million.
• Company insiders have been net sellers, offloading 19,025 shares worth roughly $6.82 million in the last three months, including Jon Rambeau and Samir Mehta who each sold 5,528 shares at $370.32 (~41–42% reductions).
• L3Harris announced a quarterly dividend of $1.25 (annualized $5.00, ~1.6% yield; ex-dividend June 5, payable June 26) and reported Q4 EPS of $2.86, beating estimates while revenue slightly missed expectations.

Exencial Wealth Advisors LLC lessened its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 26.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,162 shares of the company's stock after selling 25,745 shares during the quarter. Exencial Wealth Advisors LLC's holdings in L3Harris Technologies were worth $20,891,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LHX. Caitlin John LLC acquired a new position in shares of L3Harris Technologies during the third quarter valued at approximately $28,000. American National Bank & Trust increased its stake in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company's stock valued at $28,000 after acquiring an additional 30 shares during the period. JPL Wealth Management LLC acquired a new position in shares of L3Harris Technologies during the third quarter valued at approximately $29,000. Triumph Capital Management acquired a new position in shares of L3Harris Technologies during the third quarter valued at approximately $31,000. Finally, GGM Financials LLC acquired a new position in shares of L3Harris Technologies during the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Trading Up 1.0%

L3Harris Technologies stock opened at $320.54 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The firm has a market cap of $59.87 billion, a price-to-earnings ratio of 37.58, a price-to-earnings-growth ratio of 1.60 and a beta of 0.62. L3Harris Technologies Inc has a 1 year low of $214.10 and a 1 year high of $379.23. The firm's 50 day moving average price is $353.99 and its two-hundred day moving average price is $323.14.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.10. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.47 earnings per share. On average, research analysts predict that L3Harris Technologies Inc will post 11.53 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, June 5th. L3Harris Technologies's payout ratio is presently 58.62%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction that occurred on 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 transaction, the insider directly owned 7,660 shares in the company, valued at approximately $2,836,651.20. The trade was a 41.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Samir Mehta sold 5,528 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the transaction, the insider owned 7,756 shares in the company, valued at approximately $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 19,025 shares of company stock worth $6,824,370. Corporate insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on LHX shares. TD Cowen reiterated a "buy" rating on shares of L3Harris Technologies in a research note on Monday, January 5th. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a research report on Wednesday, January 14th. Royal Bank Of Canada lifted their price target on shares of L3Harris Technologies from $360.00 to $365.00 and gave the stock a "sector perform" rating in a research report on Friday, January 30th. Susquehanna restated a "positive" rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. Finally, Weiss Ratings upgraded shares of L3Harris Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $349.55.

About L3Harris Technologies

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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