SFE Investment Counsel Sells 466 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

SFE Investment Counsel decreased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,739 shares of the company’s stock after selling 466 shares during the period. SFE Investment Counsel’s holdings in L3Harris Technologies were worth $4,368,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cowa LLC bought a new position in shares of L3Harris Technologies in the 1st quarter worth $26,000. Mascoma Wealth Management LLC bought a new position in shares of L3Harris Technologies during the 3rd quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of L3Harris Technologies during the 1st quarter valued at $27,000. KB Financial Partners LLC grew its holdings in shares of L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the last quarter. Finally, First Capital Advisors Group LLC. bought a new position in shares of L3Harris Technologies during the 2nd quarter valued at $29,000. Institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now directly owns 1,543 shares in the company, valued at approximately $332,285.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Swanson bought 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now owns 1,543 shares of the company’s stock, 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 valued at $10,261,360 over the last three months. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Citigroup upped their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a report on Thursday, January 11th. Finally, UBS Group boosted their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $229.00.

L3Harris Technologies Stock Performance

LHX stock traded up $0.36 during midday trading on Thursday, reaching $201.76. 418,820 shares of the company’s stock traded hands, compared to its average volume of 1,118,586. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34. The stock has a market cap of $38.36 billion, a P/E ratio of 31.27, a PEG ratio of 1.86 and a beta of 0.65. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The stock’s 50-day moving average is $210.54 and its 200 day moving average is $199.59.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The business had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the company earned $3.27 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 12.73 EPS 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 paid a $1.16 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.30%. L3Harris Technologies’s dividend payout ratio is 72.05%.

L3Harris Technologies 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.