Summit Financial LLC Sells 114 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Summit Financial LLC lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,241 shares of the company’s stock after selling 114 shares during the period. Summit Financial LLC’s holdings in L3Harris Technologies were worth $682,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Meeder Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter worth $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth $30,000. Finally, Union Bancaire Privee UBP SA bought a new position in shares of L3Harris Technologies in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LHX. Susquehanna lowered their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Morgan Stanley lowered their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Finally, Bank of America cut their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $260.69.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction on Thursday, March 6th. The shares were 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 owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Up 1.0 %

Shares of L3Harris Technologies stock opened at $211.93 on Thursday. The stock’s 50-day moving average is $208.73 and its 200 day moving average is $225.14. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The firm has a market cap of $39.78 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a dividend of $1.20 per share. The ex-dividend date was Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.26%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is currently 60.99%.

L3Harris Technologies Company 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.