Valley National Advisers Inc. Reduces Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Valley National Advisers Inc. reduced its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 23.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 185 shares of the company’s stock after selling 57 shares during the quarter. Valley National Advisers Inc.’s holdings in L3Harris Technologies were worth $39,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Trust Co. of Oklahoma increased its holdings in L3Harris Technologies by 30.3% during the 1st quarter. Trust Co. of Oklahoma now owns 2,500 shares of the company’s stock worth $533,000 after acquiring an additional 581 shares during the period. Carret Asset Management LLC increased its holdings in L3Harris Technologies by 1.7% during the 1st quarter. Carret Asset Management LLC now owns 16,758 shares of the company’s stock worth $3,571,000 after acquiring an additional 278 shares during the period. Iams Wealth Management LLC increased its holdings in L3Harris Technologies by 0.8% during the 1st quarter. Iams Wealth Management LLC now owns 8,312 shares of the company’s stock worth $1,772,000 after acquiring an additional 64 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in L3Harris Technologies by 3.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,108,596 shares of the company’s stock worth $449,342,000 after acquiring an additional 66,770 shares during the period. Finally, Oak Thistle LLC bought a new stake in L3Harris Technologies during the 1st quarter worth approximately $761,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction dated 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 directly owns 120,326 shares in the company, valued at approximately $27,157,578.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,086,585.86. The disclosure for this sale can be found here. Insiders sold a total of 82,898 shares of company stock worth $18,558,167 in the last three months. 0.87% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LHX has been the topic of a number of research analyst reports. 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 report on Wednesday, May 1st. Barclays increased their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a report on Monday, April 22nd. Royal Bank of Canada increased their price target on shares of 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 shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.80.

L3Harris Technologies Trading Up 0.4 %

LHX traded up $0.84 during trading on Wednesday, hitting $224.44. 422,248 shares of the stock traded hands, compared to its average volume of 1,006,008. The firm has a market capitalization of $42.57 billion, a P/E ratio of 36.49, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The firm has a 50-day moving average of $220.29 and a 200 day moving average of $213.05. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $228.13.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same period last year, the company posted $2.86 EPS. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 12.93 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a $1.16 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $4.64 annualized dividend and a dividend yield of 2.07%. L3Harris Technologies’s dividend payout ratio is 75.32%.

L3Harris Technologies 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.