L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by New World Advisors LLC

New World Advisors LLC lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,670 shares of the company’s stock after selling 125 shares during the quarter. New World Advisors LLC’s holdings in L3Harris Technologies were worth $397,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. boosted its holdings in shares of L3Harris Technologies by 260.6% during the second 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 grew its position in L3Harris Technologies by 70.4% in the 1st 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 increased its stake in shares of L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares during the period. Family Firm Inc. acquired a new stake in shares of L3Harris Technologies in the second quarter valued at approximately $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of L3Harris Technologies during the second quarter valued at approximately $57,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded up $8.64 on Friday, reaching $252.81. 1,622,126 shares of the company traded hands, compared to its average volume of 626,107. The stock has a market capitalization of $47.96 billion, a PE ratio of 40.45, a P/E/G ratio of 2.10 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The company’s 50 day moving average is $237.08 and its 200-day moving average is $227.34. L3Harris Technologies, Inc. has a fifty-two week low of $169.55 and a fifty-two week high of $258.89.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the business posted $3.19 EPS. L3Harris Technologies’s revenue was up 7.7% on a year-over-year basis. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders 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 dividend yield of 1.84%. L3Harris Technologies’s dividend payout ratio is 74.24%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’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 transaction, the insider now owns 13,328 shares in the company, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on LHX shares. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Citigroup raised their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $256.71.

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.