L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Forza Wealth Management LLC

Forza Wealth Management LLC lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,931 shares of the company’s stock after selling 165 shares during the quarter. Forza Wealth Management LLC’s holdings in L3Harris Technologies were worth $406,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of LHX. Meeder Asset Management Inc. lifted its position in L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 86 shares in the last quarter. Archer Investment Corp increased its stake in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies during the third quarter worth $36,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at about $57,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of L3Harris Technologies during the 3rd quarter worth approximately $64,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. 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 report on Wednesday, January 8th. Truist Financial boosted their price objective on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Finally, Citigroup boosted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $266.31.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded up $5.18 during trading on Monday, reaching $213.46. The stock had a trading volume of 581,827 shares, compared to its average volume of 1,195,693. The stock has a market capitalization of $40.49 billion, a PE ratio of 33.72, a P/E/G ratio of 1.86 and a beta of 0.75. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The business’s 50-day moving average price is $231.09 and its 200 day moving average price is $233.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the business earned $3.19 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 7,889 shares of company stock worth $1,800,572 in the last three months. 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.