New World Advisors LLC Sells 125 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

New World Advisors LLC lowered its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.0% during the third quarter, Holdings Channel reports. The firm owned 1,670 shares of the company’s stock after selling 125 shares during the period. New World Advisors LLC’s holdings in L3Harris Technologies were worth $397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Meeder Asset Management Inc. increased 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 worth $27,000 after buying an additional 86 shares during the last quarter. EntryPoint Capital LLC boosted its stake in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares in the last quarter. Family Firm Inc. acquired a new position in shares of L3Harris Technologies during the 2nd quarter valued at about $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies in the 2nd quarter valued at approximately $57,000. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on LHX. Truist Financial increased their price target on L3Harris Technologies from $250.00 to $293.00 and gave the company a “buy” rating in a report on Friday, October 18th. Citigroup raised their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wolfe Research upgraded 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 report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $256.71.

L3Harris Technologies Price Performance

LHX traded up $8.64 during midday trading on Friday, reaching $252.81. 1,622,126 shares of the company’s stock were exchanged, compared to its average volume of 626,107. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The business has a 50-day simple moving average of $237.08 and a two-hundred day simple moving average of $227.34. The firm has a market capitalization of $47.96 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. L3Harris Technologies, Inc. has a one year low of $169.55 and a one year high of $258.89.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS 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 business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the company earned $3.19 EPS. L3Harris Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued 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 is currently 74.24%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’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 completion of the sale, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies 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.