L3Harris Technologies, Inc. (NYSE:LHX) Stake Lessened by PFG Investments LLC

PFG Investments LLC decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 18.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,215 shares of the company’s stock after selling 270 shares during the quarter. PFG Investments LLC’s holdings in L3Harris Technologies were worth $289,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its position in shares of L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares during the period. EntryPoint Capital LLC grew its holdings in L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares during the period. Versant Capital Management Inc raised its position in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares in the last quarter. Family Firm Inc. acquired a new stake in L3Harris Technologies in the 2nd quarter valued at about $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter valued at about $57,000. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a report on Thursday, October 10th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday. Citigroup boosted their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, 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. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $261.50.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 0.2 %

L3Harris Technologies stock opened at $245.54 on Thursday. L3Harris Technologies, Inc. has a twelve month low of $176.15 and a twelve month high of $258.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The firm has a market cap of $46.58 billion, a PE ratio of 39.86, a P/E/G ratio of 2.10 and a beta of 0.73. The firm’s 50 day moving average price is $238.05 and its two-hundred day moving average price is $228.24.

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

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.89%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

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.