NFJ Investment Group LLC Sells 13,260 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

NFJ Investment Group LLC cut its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 6.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,203 shares of the company’s stock after selling 13,260 shares during the quarter. L3Harris Technologies makes up approximately 1.3% of NFJ Investment Group LLC’s investment portfolio, making the stock its 15th largest holding. NFJ Investment Group LLC’s holdings in L3Harris Technologies were worth $44,292,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in LHX. Meeder Asset Management Inc. raised its position in 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 purchasing an additional 86 shares in the last quarter. Archer Investment Corp lifted its stake in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $36,000. Family Firm Inc. acquired a new position in shares of L3Harris Technologies during the second quarter worth approximately $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies in the second quarter valued at approximately $57,000. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

LHX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Wells Fargo & Company boosted 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, Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $269.67.

L3Harris Technologies Stock Down 0.4 %

L3Harris Technologies stock traded down $0.86 during trading hours on Tuesday, hitting $241.96. 52,691 shares of the stock traded hands, compared to its average volume of 903,055. L3Harris Technologies, Inc. has a one year low of $192.95 and a one year high of $265.74. The company has a market cap of $45.89 billion, a PE ratio of 38.36, a PEG ratio of 2.05 and a beta of 0.72. The firm’s 50-day moving average price is $246.22 and its two-hundred day moving average price is $234.23. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results 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 net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the company posted $3.19 EPS. L3Harris Technologies’s revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast that L3Harris Technologies, Inc. will post 13.1 EPS for the current year.

L3Harris Technologies Dividend Announcement

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 is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.92%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies 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 in the company, valued at $3,261,095.04. The trade was a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.87% of the stock is owned by insiders.

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.