L3Harris Technologies Inc (NYSE:LHX) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,008 shares of the company's stock after selling 2,290 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in L3Harris Technologies were worth $9,420,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. boosted its position in L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after buying an additional 82 shares during the last quarter. Millstone Evans Group LLC bought a new position in L3Harris Technologies in the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies in the fourth quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after buying an additional 111 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $33,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 0.7%

NYSE LHX opened at $251.31 on Tuesday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. The stock has a market cap of $46.98 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 1.99 and a beta of 0.74. The firm's 50 day moving average price is $232.12 and its two-hundred day moving average price is $218.46.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The firm had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. During the same period in the previous year, the company posted $3.06 EPS. The company's quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 33,061 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the transaction, the chief executive officer now directly owns 145,572 shares in the company, valued at $36,171,730.56. The trade was a 18.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider now directly owns 25,325 shares of the company's stock, valued at approximately $6,204,625. The trade was a 7.32% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LHX shares. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Citigroup increased their price target on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Jefferies Financial Group decreased their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price target for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Truist Financial decreased their price target on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.75.

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.

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