Nisa Investment Advisors LLC Sells 2,285 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Nisa Investment Advisors LLC reduced its position in L3Harris Technologies, Inc. (NYSE:LHX) by 5.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,306 shares of the company’s stock after selling 2,285 shares during the quarter. Nisa Investment Advisors LLC’s holdings in L3Harris Technologies were worth $9,350,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of L3Harris Technologies by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock valued at $4,857,141,000 after purchasing an additional 2,606,267 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in L3Harris Technologies during the second quarter worth about $210,886,000. Envestnet Asset Management Inc. grew its position in L3Harris Technologies by 236.8% during the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after buying an additional 695,582 shares in the last quarter. Bank of New York Mellon Corp increased its stake 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 worth $712,858,000 after acquiring an additional 523,315 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of L3Harris Technologies by 65.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after acquiring an additional 171,420 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LHX has been the subject of several recent analyst reports. 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. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday. Wells Fargo & Company raised their price objective on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday. Royal Bank of Canada upped their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday. Finally, Susquehanna raised their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $261.50.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $245.54 on Thursday. The stock has a market capitalization of $46.58 billion, a P/E ratio of 39.86, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. L3Harris Technologies, Inc. has a one year low of $176.15 and a one 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 business’s 50 day simple moving average is $238.05 and its two-hundred day simple moving average is $228.24.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 EPS. Analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced 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. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.89%. L3Harris Technologies’s payout ratio is presently 75.32%.

L3Harris Technologies Company 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.