L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 89.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 373 shares of the company’s stock after selling 3,103 shares during the period. Pathway Financial Advisers LLC’s holdings in L3Harris Technologies were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of LHX. Vanguard Group Inc. lifted its holdings in L3Harris Technologies by 12.9% in the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock valued at $4,857,141,000 after acquiring an additional 2,606,267 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of L3Harris Technologies by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock valued at $2,052,411,000 after purchasing an additional 45,845 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of L3Harris Technologies by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after purchasing an additional 523,315 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock worth $485,215,000 after buying an additional 27,763 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of L3Harris Technologies by 2.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock worth $334,429,000 after acquiring an additional 31,686 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 3.5 %

Shares of LHX stock opened at $252.81 on Friday. The firm has a market cap of $47.96 billion, a P/E ratio of 40.45, a PEG ratio of 2.10 and a beta of 0.73. L3Harris Technologies, Inc. has a 1-year low of $169.55 and a 1-year high of $258.89. 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 firm’s 50-day simple moving average is $237.08 and its 200-day simple moving average is $227.34.

L3Harris Technologies (NYSE:LHX) last posted 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 net margin of 5.73% and a return on equity of 13.02%. 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 firm posted $3.19 earnings per share. L3Harris Technologies’s revenue was up 7.7% on a year-over-year basis. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 74.24%.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the sale, the insider now owns 13,328 shares in the company, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LHX has been the subject of several research reports. Citigroup lifted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Truist Financial upped their price target on shares of L3Harris Technologies from $250.00 to $293.00 and gave the company a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Wells Fargo & Company reduced their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.71.

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.