L3Harris Technologies, Inc. (NYSE:LHX) Stock Position Trimmed by NBC Securities Inc.

NBC Securities Inc. decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 27.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 410 shares of the company’s stock after selling 157 shares during the period. NBC Securities Inc.’s holdings in L3Harris Technologies were worth $97,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in L3Harris Technologies by 12.9% in the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after buying an additional 2,606,267 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in L3Harris Technologies during the 2nd quarter worth $210,886,000. Envestnet Asset Management Inc. grew its stake in shares of L3Harris Technologies by 236.8% in the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after purchasing an additional 695,582 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of L3Harris Technologies by 19.7% during 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. Finally, The Manufacturers Life Insurance Company raised its stake in shares of L3Harris Technologies by 65.2% during the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after purchasing an additional 171,420 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was 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 filing with the SEC, which is available at this link. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on LHX shares. Wells Fargo & Company lowered their target price 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 shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Susquehanna upped their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Truist Financial lifted their price target on L3Harris Technologies from $250.00 to $293.00 and gave the company a “buy” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $256.71.

L3Harris Technologies Trading Up 0.2 %

NYSE:LHX opened at $248.78 on Monday. The stock has a fifty day simple moving average of $235.12 and a 200 day simple moving average of $226.11. The firm has a market capitalization of $47.19 billion, a price-to-earnings ratio of 40.39, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. L3Harris Technologies, Inc. has a 1-year low of $169.55 and a 1-year high of $249.16. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the company posted $2.97 earnings per share. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is 75.32%.

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.