L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC decreased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 18.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 867 shares of the company’s stock after selling 197 shares during the quarter. NorthRock Partners LLC’s holdings in L3Harris Technologies were worth $206,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of LHX. Meeder Asset Management Inc. raised its holdings in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the period. EntryPoint Capital LLC raised its holdings 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 period. Versant Capital Management Inc raised its holdings 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. acquired a new position in L3Harris Technologies in the 2nd quarter worth about $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in L3Harris Technologies in the 2nd quarter worth about $57,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares in the company, valued at $2,563,596.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 8,964 shares of company stock worth $2,179,119 over the last ninety days. Company insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LHX. Citigroup increased their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Truist Financial increased their target price on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada increased their target price on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Finally, Barclays increased their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Trading Up 2.2 %

Shares of L3Harris Technologies stock opened at $256.45 on Thursday. The firm has a market capitalization of $48.64 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 2.06 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $179.56 and a fifty-two week high of $260.00. 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 50 day moving average of $239.97 and a 200 day moving average of $229.89.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 earnings per share. As a group, research analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.81%. 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.