Dynamic Advisor Solutions LLC Reduces Position in L3Harris Technologies, Inc. (NYSE:LHX)

Dynamic Advisor Solutions LLC trimmed its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 13.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,329 shares of the company’s stock after selling 204 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in L3Harris Technologies were worth $316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of L3Harris Technologies by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after purchasing an additional 1,138,549 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of L3Harris Technologies by 17.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after buying an additional 6,634 shares during the period. Edgestream Partners L.P. boosted its stake in shares of L3Harris Technologies by 151.6% in the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock worth $822,000 after buying an additional 2,325 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of L3Harris Technologies by 35.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 35,953 shares of the company’s stock worth $7,661,000 after acquiring an additional 9,341 shares during the period. Finally, &PARTNERS purchased a new stake in L3Harris Technologies during the first quarter valued at $299,000. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of recent research reports. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Barclays upped their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $253.64.

L3Harris Technologies Price Performance

LHX stock opened at $246.04 on Friday. The company has a market capitalization of $46.68 billion, a PE ratio of 39.37, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. The company’s fifty day moving average price is $233.12 and its 200-day moving average price is $224.65. L3Harris Technologies, Inc. has a one year low of $169.55 and a one year high of $247.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the firm earned $2.97 EPS. The business’s revenue was up 12.9% on a year-over-year basis. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. L3Harris Technologies’s dividend payout ratio is currently 74.24%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the sale, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,863 shares of company stock valued at $5,171,749. 0.82% of the stock is owned by corporate 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.