Brighton Jones LLC Sells 333 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Brighton Jones LLC decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 20.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,283 shares of the company’s stock after selling 333 shares during the period. Brighton Jones LLC’s holdings in L3Harris Technologies were worth $305,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised 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 worth $4,857,141,000 after buying an additional 2,606,267 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in L3Harris Technologies in the 2nd quarter worth approximately $210,886,000. Envestnet Asset Management Inc. lifted its position in L3Harris Technologies by 236.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after acquiring an additional 695,582 shares in the last quarter. Bank of New York Mellon Corp lifted its position in L3Harris Technologies by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after acquiring an additional 523,315 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in L3Harris Technologies by 65.2% during the 2nd 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 during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 3.5 %

Shares of LHX stock opened at $252.81 on Friday. 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 company has a market cap of $47.96 billion, a price-to-earnings 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 firm has a fifty day moving average price of $237.08 and a 200-day moving average price of $227.19.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. L3Harris Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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 $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.84%. L3Harris Technologies’s payout ratio is currently 74.24%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Truist Financial raised 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. Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Citigroup increased their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $256.71.

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.