SVB Wealth LLC Sells 18,691 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

SVB Wealth LLC cut its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 17.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,050 shares of the company’s stock after selling 18,691 shares during the quarter. SVB Wealth LLC’s holdings in L3Harris Technologies were worth $18,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LHX. Acadian Asset Management LLC grew its stake in L3Harris Technologies by 283.0% in the first quarter. Acadian Asset Management LLC now owns 1,103 shares of the company’s stock worth $272,000 after purchasing an additional 815 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of L3Harris Technologies in the 1st quarter worth about $8,013,000. Sei Investments Co. grew its position in shares of L3Harris Technologies by 14.2% in the 1st quarter. Sei Investments Co. now owns 62,374 shares of the company’s stock worth $15,643,000 after buying an additional 7,773 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of L3Harris Technologies by 18.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,372 shares of the company’s stock worth $838,000 after acquiring an additional 537 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in L3Harris Technologies by 16.7% during the 1st quarter. Brighton Jones LLC now owns 1,230 shares of the company’s stock valued at $306,000 after acquiring an additional 176 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LHX has been the topic of a number of analyst reports. Raymond James upped their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. 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 report on Monday, January 29th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Finally, JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target for the company in a research note on Thursday, January 11th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $229.00.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the sale, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Insiders have sold a total of 48,362 shares of company stock worth $10,261,360 in the last three months. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock traded down $1.88 during midday trading on Tuesday, hitting $201.34. The company’s stock had a trading volume of 179,907 shares, compared to its average volume of 1,121,207. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The company has a 50 day moving average of $210.84 and a two-hundred day moving average of $199.39. The firm has a market capitalization of $38.28 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.31 by $0.04. The business had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.27 EPS. On average, analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

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

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.