Moors & Cabot Inc. Has $4.03 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Moors & Cabot Inc. trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,181 shares of the company’s stock after selling 197 shares during the quarter. Moors & Cabot Inc.’s holdings in L3Harris Technologies were worth $4,033,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LHX. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $30,000. Archer Investment Corp raised its position in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in L3Harris Technologies in the 4th quarter valued at $33,000. Finally, Kennebec Savings Bank purchased a new stake in L3Harris Technologies in the 3rd quarter valued at $36,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on LHX. Truist Financial lowered their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Barclays reduced their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Finally, Susquehanna reduced their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $261.40.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the sale, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,862 shares of company stock worth $2,155,054. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Trading Down 2.4 %

Shares of NYSE:LHX opened at $212.58 on Wednesday. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The stock’s fifty day moving average price is $209.17 and its 200-day moving average price is $227.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company has a market cap of $40.03 billion, a P/E ratio of 27.01, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a $1.20 dividend. The ex-dividend date is Monday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.26%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

About L3Harris Technologies

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.