SpiderRock Advisors LLC Sells 560 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

SpiderRock Advisors LLC reduced its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 9.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,161 shares of the company’s stock after selling 560 shares during the quarter. SpiderRock Advisors LLC’s holdings in L3Harris Technologies were worth $1,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its stake in 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 acquiring an additional 86 shares during the period. EntryPoint Capital LLC boosted its holdings in L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the last quarter. Versant Capital Management Inc grew its position in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares during the period. Family Firm Inc. purchased a new stake in L3Harris Technologies during the 2nd quarter valued at $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter valued at $57,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 8,964 shares of company stock worth $2,179,119. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank of Canada upped their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company upped their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, Susquehanna increased their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Trading Up 2.3 %

Shares of LHX stock opened at $260.60 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a fifty day simple moving average of $240.87 and a two-hundred day simple moving average of $230.59. The firm has a market capitalization of $49.43 billion, a PE ratio of 41.17, a PEG ratio of 2.17 and a beta of 0.72. L3Harris Technologies, Inc. has a 52-week low of $179.56 and a 52-week high of $261.75.

L3Harris Technologies (NYSE:LHX) last issued its 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 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the company earned $3.19 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors 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 yield of 1.78%. L3Harris Technologies’s payout ratio is 73.30%.

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.