Crossmark Global Holdings Inc. Sells 840 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Crossmark Global Holdings Inc. reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 11.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,429 shares of the company’s stock after selling 840 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in L3Harris Technologies were worth $1,529,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LHX. QRG Capital Management Inc. boosted its holdings in L3Harris Technologies by 6.3% in the first quarter. QRG Capital Management Inc. now owns 2,431 shares of the company’s stock valued at $518,000 after acquiring an additional 145 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of L3Harris Technologies in the 1st quarter valued at about $228,000. State Board of Administration of Florida Retirement System grew its position in shares of L3Harris Technologies by 9.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 215,262 shares of the company’s stock worth $42,243,000 after buying an additional 18,631 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of L3Harris Technologies by 18.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 240,182 shares of the company’s stock worth $51,183,000 after buying an additional 36,981 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in L3Harris Technologies by 9.5% in the first quarter. Kingsview Wealth Management LLC now owns 3,687 shares of the company’s stock valued at $786,000 after buying an additional 319 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on LHX shares. Royal Bank of Canada lifted their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Wells Fargo & Company lifted their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft cut their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. 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. Finally, Truist Financial increased their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $267.50.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the transaction, the insider now owns 13,328 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Insiders have sold a total of 8,964 shares of company stock valued at $2,179,119 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Trading Down 0.0 %

Shares of NYSE:LHX opened at $261.65 on Thursday. The firm has a market cap of $49.63 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 2.18 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 12 month low of $183.23 and a 12 month high of $265.74. The company’s fifty day simple moving average is $241.95 and its 200 day simple moving average is $231.48.

L3Harris Technologies (NYSE:LHX) last issued 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 for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.19 earnings per share. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.77%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

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.