Gulf International Bank UK Ltd Has $132,000 Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Gulf International Bank UK Ltd lowered its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 54.1% during the third quarter, Holdings Channel reports. The institutional investor owned 557 shares of the company’s stock after selling 657 shares during the quarter. Gulf International Bank UK Ltd’s holdings in L3Harris Technologies were worth $132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 acquiring an additional 2,606,267 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in L3Harris Technologies during the second quarter worth about $210,886,000. Envestnet Asset Management Inc. boosted its holdings in L3Harris Technologies by 236.8% during the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after purchasing an additional 695,582 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 purchasing an additional 523,315 shares during the period. 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 worth $97,532,000 after buying an additional 171,420 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LHX shares. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company upped their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Morgan Stanley downgraded shares of 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 report on Friday, August 9th. Royal Bank of Canada upped their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Finally, Susquehanna lifted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $267.50.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies 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 completion of the sale, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 8,964 shares of company stock worth $2,179,119 over the last ninety days. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 2.3 %

Shares of LHX opened at $260.60 on Friday. The business’s fifty day moving average price is $240.87 and its two-hundred day moving average price is $230.43. The firm has a market capitalization of $49.43 billion, a price-to-earnings ratio of 41.17, a PEG ratio of 2.14 and a beta of 0.72. L3Harris Technologies, Inc. has a 52 week low of $179.56 and a 52 week high of $261.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last posted 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. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $3.19 earnings per share. On average, analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

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.