L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,881 shares of the company’s stock after selling 193 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in L3Harris Technologies were worth $1,449,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in L3Harris Technologies during the 4th quarter worth about $28,000. KB Financial Partners LLC boosted its position in L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares during the last quarter. Blue Trust Inc. grew its stake in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares during the period. Washington Trust Advisors Inc. raised its holdings in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after acquiring an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $46,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on LHX. Barclays raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. increased their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Royal Bank of Canada boosted their price objective on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Wells Fargo & Company lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Finally, Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research note on Monday, April 22nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $231.80.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Insiders have sold a total of 122,898 shares of company stock worth $27,046,967 over the last quarter. 0.87% of the stock is owned by company insiders.

L3Harris Technologies Price Performance

LHX opened at $222.45 on Thursday. The company has a market capitalization of $42.19 billion, a P/E ratio of 36.11, a PEG ratio of 1.85 and a beta of 0.71. The company has a 50-day moving average of $216.62 and a 200-day moving average of $211.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $226.99.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter last year, the business posted $2.86 EPS. L3Harris Technologies’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities analysts expect that L3Harris Technologies, Inc. will post 12.89 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

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.