Avantax Planning Partners Inc. Reduces Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Avantax Planning Partners Inc. lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,721 shares of the company’s stock after selling 122 shares during the quarter. Avantax Planning Partners Inc.’s holdings in L3Harris Technologies were worth $362,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LHX. Assetmark Inc. lifted its position in L3Harris Technologies by 0.6% in the third quarter. Assetmark Inc. now owns 17,656 shares of the company’s stock valued at $4,200,000 after purchasing an additional 100 shares during the period. Sigma Planning Corp lifted its position in L3Harris Technologies by 1.9% in the third quarter. Sigma Planning Corp now owns 2,613 shares of the company’s stock valued at $622,000 after purchasing an additional 49 shares during the period. Ashton Thomas Securities LLC purchased a new position in L3Harris Technologies in the third quarter valued at about $64,000. Prime Capital Investment Advisors LLC increased its holdings in L3Harris Technologies by 132.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 4,715 shares of the company’s stock valued at $1,122,000 after buying an additional 2,683 shares in the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in L3Harris Technologies by 18.0% in the third quarter. Aptus Capital Advisors LLC now owns 2,657 shares of the company’s stock valued at $632,000 after buying an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.4 %

Shares of LHX opened at $209.28 on Thursday. The firm has a market cap of $39.41 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The company’s fifty day moving average is $209.15 and its two-hundred day moving average is $227.28. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. 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 (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Analyst Ratings Changes

LHX has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. Citigroup dropped their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Susquehanna dropped their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now owns 5,049 shares in the company, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, 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. In the last 90 days, insiders have sold 9,862 shares of company stock worth $2,155,054. 0.82% of the stock is currently owned by corporate insiders.

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.