Sanctuary Advisors LLC Grows Stake in L3Harris Technologies Inc $LHX

Key Points

• Sanctuary Advisors LLC increased its stake in L3Harris Technologies (NYSE:LHX) by 11.4% in Q4 to 36,943 shares, worth about $10.85 million at the end of the period.
• Company insiders sold a total of 19,025 shares (approximately $6.82 million) over the last quarter — including two 5,528-share sales on March 2 — leaving insiders with roughly 0.68% ownership.
• Analysts carry a consensus rating of "Moderate Buy" with an average target of $349.55, and the company pays a quarterly dividend of $1.25 ($5.00 annual, ~1.6% yield; ex-dividend date June 5).

Sanctuary Advisors LLC grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,943 shares of the company's stock after buying an additional 3,788 shares during the period. Sanctuary Advisors LLC's holdings in L3Harris Technologies were worth $10,845,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Caitlin John LLC purchased a new position in L3Harris Technologies during the third quarter worth $28,000. American National Bank & Trust increased its position in L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company's stock worth $28,000 after buying an additional 30 shares in the last quarter. JPL Wealth Management LLC purchased a new position in L3Harris Technologies during the third quarter worth $29,000. Triumph Capital Management purchased a new position in L3Harris Technologies during the third quarter worth $31,000. Finally, GGM Financials LLC purchased a new position in L3Harris Technologies during the third quarter worth $32,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Activity

In other news, insider Samir Mehta sold 5,528 shares of L3Harris Technologies stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider owned 7,756 shares of the company's stock, valued at $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction on 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 sale, the insider directly owned 7,660 shares of the company's stock, valued at approximately $2,836,651.20. This represents a 41.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,025 shares of company stock valued at $6,824,370 over the last quarter. Company insiders own 0.68% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on LHX shares. Susquehanna reissued a "positive" rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. UBS Group raised their price target on L3Harris Technologies to $323.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 14th. Weiss Ratings raised L3Harris Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, December 29th. Finally, Truist Financial set a $364.00 price target on L3Harris Technologies in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $349.55.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $320.54 on Tuesday. The company has a market cap of $59.87 billion, a P/E ratio of 37.58, a P/E/G ratio of 1.60 and a beta of 0.62. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. L3Harris Technologies Inc has a 52 week low of $214.10 and a 52 week high of $379.23. The business has a fifty day simple moving average of $353.99 and a 200-day simple moving average of $323.14.

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

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies's payout ratio is currently 58.62%.

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.

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies Inc (NYSE:LHX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.