Obermeyer Wood Investment Counsel Lllp Has $496,000 Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Obermeyer Wood Investment Counsel Lllp cut its position in L3Harris Technologies, Inc. (NYSE:LHX) by 32.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,353 shares of the company’s stock after selling 1,150 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in L3Harris Technologies were worth $496,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Calamos Advisors LLC grew its stake in shares of L3Harris Technologies by 2.6% in the 4th quarter. Calamos Advisors LLC now owns 199,206 shares of the company’s stock valued at $41,957,000 after buying an additional 4,955 shares during the period. Xponance Inc. lifted its position in L3Harris Technologies by 5.7% in the 4th quarter. Xponance Inc. now owns 26,963 shares of the company’s stock valued at $5,679,000 after acquiring an additional 1,443 shares in the last quarter. Federated Hermes Inc. lifted its position in L3Harris Technologies by 12.5% in the 4th quarter. Federated Hermes Inc. now owns 45,135 shares of the company’s stock valued at $9,506,000 after acquiring an additional 5,030 shares in the last quarter. Tufton Capital Management lifted its position in L3Harris Technologies by 6.8% in the 4th quarter. Tufton Capital Management now owns 12,607 shares of the company’s stock valued at $2,655,000 after acquiring an additional 805 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in L3Harris Technologies by 90.8% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 332 shares of the company’s stock valued at $70,000 after acquiring an additional 158 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on LHX shares. Citigroup raised their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target on the stock in a research report on Thursday, January 11th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. UBS Group lifted their target price 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. Finally, Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. 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 Stock Performance

Shares of LHX stock traded up $0.75 during trading hours on Thursday, hitting $202.15. 683,570 shares of the company were exchanged, compared to its average volume of 1,122,904. The firm has a fifty day simple moving average of $210.54 and a 200 day simple moving average of $199.59. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34. The stock has a market capitalization of $38.43 billion, a price-to-earnings ratio of 31.38, a P/E/G ratio of 1.86 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 (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the business posted $3.27 EPS. L3Harris Technologies’s quarterly revenue was up 16.6% compared to the same quarter last year. Research analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.30%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend was Thursday, March 7th. L3Harris Technologies’s payout ratio is currently 72.05%.

Insider Activity at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at approximately $12,376,393.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at approximately $12,376,393.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 3,363 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $212.86, for a total transaction of $715,848.18. Following the completion of the transaction, the senior vice president now owns 55,254 shares of the company’s stock, valued at $11,761,366.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,362 shares of company stock worth $10,261,360. Corporate insiders own 0.82% of the company’s stock.

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.