Hartford Investment Management Co. Sells 201 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Hartford Investment Management Co. lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,947 shares of the company’s stock after selling 201 shares during the period. Hartford Investment Management Co.’s holdings in L3Harris Technologies were worth $2,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Park Avenue Securities LLC increased its position in L3Harris Technologies by 20.9% during the 1st quarter. Park Avenue Securities LLC now owns 4,878 shares of the company’s stock worth $1,040,000 after buying an additional 843 shares during the period. RFG Advisory LLC acquired a new position in shares of L3Harris Technologies in the first quarter valued at about $293,000. Sunbelt Securities Inc. increased its position in L3Harris Technologies by 13.8% during the first quarter. Sunbelt Securities Inc. now owns 3,950 shares of the company’s stock worth $842,000 after acquiring an additional 479 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in L3Harris Technologies in the 1st quarter worth about $216,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in L3Harris Technologies by 18.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 37,204 shares of the company’s stock valued at $7,928,000 after purchasing an additional 5,877 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

NYSE LHX opened at $245.82 on Thursday. The firm’s fifty day moving average price is $236.24 and its two-hundred day moving average price is $226.77. The stock has a market cap of $46.63 billion, a PE ratio of 39.91, a PEG ratio of 2.08 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. L3Harris Technologies, Inc. has a fifty-two week low of $169.55 and a fifty-two week high of $250.88.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. L3Harris Technologies’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.97 EPS. On average, equities analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.82% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LHX shares. Barclays lifted their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Citigroup raised their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, Susquehanna raised their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.71.

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.