GDS Wealth Management Reduces Position in L3Harris Technologies, Inc. (NYSE:LHX)

GDS Wealth Management cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 27.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,943 shares of the company’s stock after selling 25,180 shares during the period. L3Harris Technologies makes up 1.8% of GDS Wealth Management’s portfolio, making the stock its 17th biggest position. GDS Wealth Management’s holdings in L3Harris Technologies were worth $13,678,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wealthspire Advisors LLC lifted its holdings in L3Harris Technologies by 16.7% in the fourth quarter. Wealthspire Advisors LLC now owns 1,718 shares of the company’s stock valued at $362,000 after acquiring an additional 246 shares during the period. Catalyst Financial Partners LLC bought a new position in L3Harris Technologies in the fourth quarter valued at about $252,000. National Pension Service lifted its holdings in L3Harris Technologies by 2.1% in the fourth quarter. National Pension Service now owns 370,170 shares of the company’s stock valued at $77,965,000 after acquiring an additional 7,649 shares during the period. Cullen Frost Bankers Inc. lifted its holdings in L3Harris Technologies by 1.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 68,898 shares of the company’s stock valued at $14,511,000 after acquiring an additional 945 shares during the period. Finally, Gryphon Financial Partners LLC lifted its holdings in L3Harris Technologies by 26.1% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,808 shares of the company’s stock valued at $384,000 after acquiring an additional 374 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In related news, Director William H. Swanson acquired 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the acquisition, the director now directly owns 1,543 shares in the company, valued at approximately $332,285.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William H. Swanson purchased 1,250 shares of the stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the transaction, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LHX shares. Raymond James raised their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Wells Fargo & Company raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday. Royal Bank of Canada raised their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Barclays raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, UBS Group increased their target price on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $231.80.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded up $3.74 during mid-day trading on Thursday, reaching $219.55. 825,370 shares of the company traded hands, compared to its average volume of 1,111,450. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $219.88. The company has a market capitalization of $41.64 billion, a price-to-earnings ratio of 35.63, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63. The firm’s fifty day moving average is $210.38 and its two-hundred day moving average is $203.50.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. L3Harris Technologies’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.86 EPS. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 12.91 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a dividend of $1.16 per share. The ex-dividend date is Tuesday, June 4th. This represents a $4.64 annualized dividend and a yield of 2.11%. 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.