Venturi Wealth Management LLC Sells 1,022 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Venturi Wealth Management LLC cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 67.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 492 shares of the company’s stock after selling 1,022 shares during the quarter. Venturi Wealth Management LLC’s holdings in L3Harris Technologies were worth $117,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. QRG Capital Management Inc. increased its position in L3Harris Technologies by 6.3% during the 1st quarter. QRG Capital Management Inc. now owns 2,431 shares of the company’s stock worth $518,000 after buying an additional 145 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of L3Harris Technologies in the 1st quarter valued at $228,000. State Board of Administration of Florida Retirement System raised its position in L3Harris Technologies by 9.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 215,262 shares of the company’s stock valued at $42,243,000 after purchasing an additional 18,631 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in L3Harris Technologies by 18.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 240,182 shares of the company’s stock valued at $51,183,000 after buying an additional 36,981 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in shares of L3Harris Technologies by 9.5% during the first quarter. Kingsview Wealth Management LLC now owns 3,687 shares of the company’s stock valued at $786,000 after acquiring an additional 319 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 8,964 shares of company stock worth $2,179,119. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

LHX opened at $261.65 on Thursday. L3Harris Technologies, Inc. has a twelve month low of $183.23 and a twelve month high of $265.74. The company has a market capitalization of $49.63 billion, a price-to-earnings ratio of 41.33, a PEG ratio of 2.18 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $241.95 and a 200-day moving average price of $231.48.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.19 EPS. Equities analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.77%. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Analyst Ratings Changes

A number of research firms recently commented on LHX. Wells Fargo & Company lifted their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Citigroup increased their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Susquehanna lifted their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.

About L3Harris Technologies

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.