MGO One Seven LLC Sells 10,200 Shares of L3Harris Technologies Inc $LHX

MGO One Seven LLC lowered its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 58.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,120 shares of the company’s stock after selling 10,200 shares during the quarter. MGO One Seven LLC’s holdings in L3Harris Technologies were worth $1,686,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LHX. BlackRock Inc. acquired a new position in L3Harris Technologies during the 2nd quarter worth approximately $5,525,806,000. State Street Corp boosted its holdings in L3Harris Technologies by 2.9% in the second quarter. State Street Corp now owns 9,097,353 shares of the company’s stock worth $2,643,600,000 after acquiring an additional 252,662 shares in the last quarter. Wellington Management Group LLP boosted its holdings in L3Harris Technologies by 7.1% in the second quarter. Wellington Management Group LLP now owns 4,707,086 shares of the company’s stock worth $1,367,832,000 after acquiring an additional 313,431 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in L3Harris Technologies in the second quarter valued at approximately $752,983,000. Finally, Bank of America Corp DE grew its stake in L3Harris Technologies by 1.4% in the second quarter. Bank of America Corp DE now owns 1,945,342 shares of the company’s stock valued at $565,297,000 after acquiring an additional 27,610 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $259.61 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 1.20. The stock has a 50 day moving average price of $250.27 and a two-hundred day moving average price of $304.02. The firm has a market capitalization of $48.34 billion, a P/E ratio of 24.22, a P/E/G ratio of 1.71 and a beta of 0.47. L3Harris Technologies Inc has a 52 week low of $232.34 and a 52 week high of $379.23.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.33. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the company earned $2.70 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities analysts forecast that L3Harris Technologies Inc will post 11.98 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, December 4th. L3Harris Technologies’s dividend payout ratio is presently 46.64%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LHX. BNP Paribas Exane lowered their target price on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Susquehanna reduced their price target on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research report on Friday, July 31st. The Goldman Sachs Group decreased their price target on shares of L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Royal Bank Of Canada boosted their price target on shares of L3Harris Technologies from $265.00 to $295.00 and gave the company a “sector perform” rating in a research note on Friday, October 30th. Finally, UBS Group upped their price objective on shares of L3Harris Technologies from $264.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $345.60.

About L3Harris Technologies

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.