Prudent Man Advisors LLC Has $1.29 Million Position in L3Harris Technologies Inc $LHX

Prudent Man Advisors LLC lessened its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 24.9% during the third quarter, Holdings Channel.com reports. The fund owned 4,222 shares of the company’s stock after selling 1,398 shares during the period. Prudent Man Advisors LLC’s holdings in L3Harris Technologies were worth $1,289,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LHX. Caitlin John LLC acquired a new stake in shares of L3Harris Technologies during the 3rd quarter worth $28,000. GGM Financials LLC bought a new position in shares of L3Harris Technologies in the third quarter worth $32,000. Salomon & Ludwin LLC acquired a new position in L3Harris Technologies in the third quarter valued at about $34,000. Twin Peaks Wealth Advisors LLC acquired a new position in L3Harris Technologies in the second quarter valued at about $34,000. Finally, Copia Wealth Management lifted its position in L3Harris Technologies by 1,842.9% during the third quarter. Copia Wealth Management now owns 136 shares of the company’s stock worth $42,000 after purchasing an additional 129 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LHX shares. Argus upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. Royal Bank Of Canada upped their price target on shares of L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. UBS Group increased their price target on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, February 6th. Finally, Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $328.57.

L3Harris Technologies Price Performance

Shares of LHX opened at $364.47 on Thursday. L3Harris Technologies Inc has a 12-month low of $195.72 and a 12-month high of $379.23. The business has a 50-day simple moving average of $346.76 and a two-hundred day simple moving average of $307.71. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The stock has a market cap of $68.07 billion, a PE ratio of 42.73, a PEG ratio of 2.61 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $3.47 earnings per share. Analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s payout ratio is 58.62%.

Insider Buying and Selling

In related news, insider Samir Mehta sold 5,528 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,756 shares in the company, valued at $2,872,201.92. This represents a 41.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the transaction, the insider directly owned 7,660 shares in the company, valued at $2,836,651.20. The trade was a 41.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,025 shares of company stock valued at $6,824,370 over the last 90 days. 0.72% of the stock is owned by insiders.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.