L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,295 shares of the company’s stock after selling 260 shares during the period. Boston Trust Walden Corp’s holdings in L3Harris Technologies were worth $784,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of LHX. Wealth Enhancement Advisory Services LLC grew its stake in shares of L3Harris Technologies by 17.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock worth $9,845,000 after purchasing an additional 6,634 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of L3Harris Technologies by 151.6% in the first quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock valued at $822,000 after buying an additional 2,325 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of L3Harris Technologies by 35.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 35,953 shares of the company’s stock valued at $7,661,000 after buying an additional 9,341 shares in the last quarter. Creative Planning lifted its position in shares of L3Harris Technologies by 1.2% during the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after acquiring an additional 512 shares during the last quarter. Finally, Mutual Advisors LLC boosted its stake in shares of L3Harris Technologies by 88.7% during the 1st quarter. Mutual Advisors LLC now owns 8,576 shares of the company’s stock worth $1,827,000 after acquiring an additional 4,031 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on LHX. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $275.00 to $257.00 in a report on Friday, August 9th. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Citigroup upped their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Barclays lifted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $256.71.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the sale, the insider now directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.82% of the stock is owned by insiders.

L3Harris Technologies Price Performance

LHX opened at $252.81 on Monday. The stock has a fifty day moving average price of $237.08 and a 200 day moving average price of $227.50. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a 1 year low of $169.55 and a 1 year high of $258.89. The stock has a market cap of $47.96 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 2.10 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the company earned $3.19 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. Analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.84%. L3Harris Technologies’s dividend payout ratio (DPR) is 74.24%.

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.