L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS boosted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,227 shares of the company’s stock after buying an additional 250 shares during the period. Legacy Wealth Management LLC MS’s holdings in L3Harris Technologies were worth $2,769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. increased its holdings in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after buying an additional 82 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies during the 4th quarter valued at about $27,000. Roxbury Financial LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings 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 worth $30,000 after acquiring an additional 111 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were 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 approximately $6,475,517.60. This represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Jefferies Financial Group lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. UBS Group boosted their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Bank of America decreased their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Citigroup lowered their target price on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their price target for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.56.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $244.46 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company’s fifty day moving average is $218.97 and its two-hundred day moving average is $218.78. The company has a market cap of $45.70 billion, a P/E ratio of 31.06, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $3.06 earnings per share. Equities analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.96%. L3Harris Technologies’s dividend payout ratio is currently 56.94%.

L3Harris Technologies Company 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.