SageView Advisory Group LLC Sells 124 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

SageView Advisory Group LLC reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,288 shares of the company’s stock after selling 124 shares during the period. SageView Advisory Group LLC’s holdings in L3Harris Technologies were worth $904,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in L3Harris Technologies during the 4th quarter worth $28,000. KB Financial Partners LLC raised its position in L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the last quarter. Blue Trust Inc. raised its position in L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares during the last quarter. Washington Trust Advisors Inc. raised its position in L3Harris Technologies by 80.6% during the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in L3Harris Technologies during the 4th quarter worth $46,000. 84.76% of the stock is owned by institutional investors.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,086,585.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,086,585.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,190 shares of company stock worth $25,588,883. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of several analyst reports. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research report on Monday, April 22nd. Barclays increased their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. increased their price target on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Royal Bank of Canada increased their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Finally, Wells Fargo & Company increased their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $231.80.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $220.79 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The stock has a market cap of $41.88 billion, a price-to-earnings ratio of 35.84, a PEG ratio of 1.83 and a beta of 0.71. The firm’s 50-day simple moving average is $215.96 and its 200 day simple moving average is $211.27. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $226.99.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same period in the previous year, the business earned $2.86 EPS. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 12.89 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.10%. L3Harris Technologies’s dividend payout ratio is 75.32%.

About L3Harris Technologies

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.