L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 27.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,800 shares of the company’s stock after selling 695 shares during the quarter. New England Research & Management Inc.’s holdings in L3Harris Technologies were worth $377,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Belpointe Asset Management LLC raised its position in L3Harris Technologies by 0.7% in the fourth quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company’s stock worth $1,476,000 after acquiring an additional 52 shares in the last quarter. Klingman & Associates LLC raised its position in L3Harris Technologies by 2.8% in the fourth quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock worth $406,000 after acquiring an additional 53 shares in the last quarter. CWC Advisors LLC. raised its holdings in L3Harris Technologies by 2.1% during the 4th quarter. CWC Advisors LLC. now owns 2,596 shares of the company’s stock worth $546,000 after buying an additional 53 shares during the period. Zullo Investment Group Inc. raised its holdings in L3Harris Technologies by 3.2% during the 4th quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company’s stock worth $361,000 after buying an additional 54 shares during the period. Finally, Citizens Financial Group Inc. RI raised its holdings in L3Harris Technologies by 0.6% during the 4th quarter. Citizens Financial Group Inc. RI now owns 8,908 shares of the company’s stock worth $1,873,000 after buying an additional 54 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Wells Fargo & Company cut their price objective on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Citigroup boosted their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Jefferies Financial Group cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, UBS Group boosted their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.75.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider now owns 25,325 shares of the company’s stock, valued at approximately $6,204,625. The trade was a 7.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Trading Up 2.7%

Shares of NYSE LHX opened at $257.06 on Friday. The stock has a market cap of $48.06 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 2.42 and a beta of 0.74. The business has a 50 day simple moving average of $227.95 and a 200 day simple moving average of $218.45. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion during 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 firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.06 EPS. On average, research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.87%. L3Harris Technologies’s payout ratio is 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.