Congress Wealth Management LLC DE Buys 498 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Congress Wealth Management LLC DE lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 44.3% in the fourth quarter, HoldingsChannel reports. The fund owned 1,621 shares of the company’s stock after acquiring an additional 498 shares during the period. Congress Wealth Management LLC DE’s holdings in L3Harris Technologies were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. raised its holdings in L3Harris Technologies by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the company’s stock valued at $5,605,000 after acquiring an additional 76 shares during the period. FCA Corp TX purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $135,000. Vanguard Group Inc. raised its stake in L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after purchasing an additional 401,168 shares during the period. Stevens Capital Management LP purchased a new position in L3Harris Technologies in the 4th quarter worth approximately $373,000. Finally, LPL Financial LLC boosted its stake in L3Harris Technologies by 2.6% in the 4th quarter. LPL Financial LLC now owns 226,199 shares of the company’s stock worth $47,565,000 after purchasing an additional 5,746 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 2.5 %

Shares of LHX opened at $207.46 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $209.34 and a 200 day moving average of $225.52. The company has a market cap of $38.94 billion, a PE ratio of 26.36, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

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

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a dividend of $1.20 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.31%. L3Harris Technologies’s dividend payout ratio is currently 60.99%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America reduced their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Citigroup reduced their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Morgan Stanley dropped their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Truist Financial reduced their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,334 shares of company stock worth $1,383,709. 0.72% of the stock is currently owned by company insiders.

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.