L3Harris Technologies, Inc. (NYSE:LHX) Position Reduced by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,455 shares of the company’s stock after selling 150 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in L3Harris Technologies were worth $3,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. OneDigital Investment Advisors LLC lifted its position in shares of L3Harris Technologies by 0.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after purchasing an additional 40 shares in the last quarter. Measured Wealth Private Client Group LLC grew its holdings in L3Harris Technologies by 5.5% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock valued at $200,000 after purchasing an additional 50 shares during the last quarter. Avestar Capital LLC grew its holdings in L3Harris Technologies by 4.2% during the third quarter. Avestar Capital LLC now owns 1,255 shares of the company’s stock valued at $299,000 after purchasing an additional 51 shares during the last quarter. Premier Path Wealth Partners LLC grew its holdings in L3Harris Technologies by 3.4% during the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock valued at $328,000 after purchasing an additional 51 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its stake in shares of L3Harris Technologies by 2.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock worth $514,000 after acquiring an additional 53 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $211.42 on Monday. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $39.69 billion, a P/E ratio of 26.86, a PEG ratio of 2.42 and a beta of 0.74. The business has a 50-day moving average of $209.26 and a 200-day moving average of $226.99.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a $1.20 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.27%. L3Harris Technologies’s payout ratio is presently 60.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Wells Fargo & Company cut their price objective on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, Susquehanna cut their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction that occurred on 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 directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,098 shares of company stock worth $1,760,588. Corporate insiders own 0.82% of the company’s stock.

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.