Hurlow Wealth Management Group Inc. Decreases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

by · The Cerbat Gem

Hurlow Wealth Management Group Inc. cut its position in L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 3.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,981 shares of the company’s stock after selling 73 shares during the quarter. Hurlow Wealth Management Group Inc.’s holdings in L3Harris Technologies were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in LHX. Cowa LLC acquired a new stake in L3Harris Technologies in the first quarter valued at $26,000. GoalVest Advisory LLC raised its holdings in L3Harris Technologies by 179.6% in the second quarter. GoalVest Advisory LLC now owns 137 shares of the company’s stock valued at $27,000 after acquiring an additional 88 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in L3Harris Technologies in the first quarter valued at $27,000. First Capital Advisors Group LLC. acquired a new stake in L3Harris Technologies in the second quarter valued at $29,000. Finally, Eagle Bay Advisors LLC acquired a new stake in L3Harris Technologies in the second quarter valued at $30,000. 81.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 4,742 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $190.00, for a total value of $900,980.00. Following the completion of the transaction, the insider now owns 27,183 shares in the company, valued at approximately $5,164,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Stock Up 0.9 %

L3Harris Technologies stock opened at $208.37 on Friday. The company has a 50-day simple moving average of $185.91 and a 200-day simple moving average of $185.00. The firm has a market capitalization of $39.49 billion, a P/E ratio of 26.78, a P/E/G ratio of 4.64 and a beta of 0.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.69 and a current ratio of 0.88. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $219.31.

L3Harris Technologies (NYSE:LHX – Get Free Report) last released its quarterly earnings results on Thursday, October 26th. The company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.06 by $0.13. The business had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.95 billion. L3Harris Technologies had a net margin of 7.96% and a return on equity of 12.66%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.26 earnings per share. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 12.33 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were given a $1.14 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $4.56 dividend on an annualized basis and a yield of 2.19%. L3Harris Technologies’s dividend payout ratio is presently 58.61%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Raymond James upped their price target on shares of L3Harris Technologies from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup started coverage on shares of L3Harris Technologies in a report on Monday, September 11th. They set a “buy” rating and a $193.00 target price on the stock. Truist Financial increased their target price on shares of L3Harris Technologies from $224.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Company increased their target price on shares of L3Harris Technologies from $211.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, November 28th. Finally, Deutsche Bank Aktiengesellschaft raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $184.00 to $240.00 in a report on Friday. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $227.73.

Check Out Our Latest Stock Report on LHX

L3Harris Technologies Company Profile

(Free Report)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

Further Reading

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