L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% in the 4th quarter, Holdings Channel reports. The fund owned 12,005 shares of the company’s stock after selling 121 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in L3Harris Technologies were worth $2,528,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems purchased a new stake in L3Harris Technologies during the 3rd quarter valued at approximately $2,642,000. GDS Wealth Management raised its stake in shares of L3Harris Technologies by 184.5% during the 3rd quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock worth $15,692,000 after buying an additional 58,441 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $46,000. Ceredex Value Advisors LLC raised its stake in shares of L3Harris Technologies by 14.1% during the 3rd quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock worth $117,315,000 after buying an additional 83,319 shares in the last quarter. Finally, Strong Tower Advisory Services raised its stake in shares of L3Harris Technologies by 2.8% during the 3rd quarter. Strong Tower Advisory Services now owns 5,314 shares of the company’s stock worth $925,000 after buying an additional 147 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William H. Swanson purchased 1,250 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 in the last ninety days. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LHX shares. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price for the company in a research note on Thursday, January 11th. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. TheStreet upgraded L3Harris Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Raymond James raised their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, UBS Group boosted their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $229.00.

L3Harris Technologies Price Performance

LHX stock traded up $0.23 on Friday, reaching $202.62. The company had a trading volume of 931,150 shares, compared to its average volume of 1,138,365. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. The company’s fifty day moving average is $210.92 and its 200 day moving average is $199.00. The company has a market cap of $38.52 billion, a P/E ratio of 31.46, a PEG ratio of 1.88 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.04. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.27 EPS. On average, research analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date was Thursday, March 7th. L3Harris Technologies’s dividend payout ratio is presently 72.05%.

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.