EP Wealth Advisors LLC Decreases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

EP Wealth Advisors LLC decreased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 83.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,919 shares of the company’s stock after selling 14,359 shares during the quarter. EP Wealth Advisors LLC’s holdings in L3Harris Technologies were worth $614,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. grew its stake in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares during the period. Millstone Evans Group LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $27,000. Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after acquiring an additional 111 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

LHX has been the subject of a number of recent research reports. UBS Group boosted their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Jefferies Financial Group cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Truist Financial cut their price objective on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Citigroup cut their price objective on L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, 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 research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $256.56.

L3Harris Technologies Stock Up 0.3%

Shares of LHX opened at $219.15 on Monday. The stock has a market capitalization of $40.97 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The business’s 50 day simple moving average is $213.93 and its 200-day simple moving average is $220.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.06 EPS. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.19%. L3Harris Technologies’s dividend payout ratio (DPR) is 56.94%.

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.