Norris Perne & French LLP MI Reduces Position in L3Harris Technologies, Inc. (NYSE:LHX)

Norris Perne & French LLP MI cut its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,853 shares of the company’s stock after selling 566 shares during the period. L3Harris Technologies accounts for 1.6% of Norris Perne & French LLP MI’s investment portfolio, making the stock its 21st largest holding. Norris Perne & French LLP MI’s holdings in L3Harris Technologies were worth $23,038,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First Trust Direct Indexing L.P. boosted its holdings in shares of L3Harris Technologies by 12.2% in the 1st quarter. First Trust Direct Indexing L.P. now owns 5,400 shares of the company’s stock valued at $1,151,000 after buying an additional 586 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in L3Harris Technologies by 6.4% during the 1st quarter. J.W. Cole Advisors Inc. now owns 3,829 shares of the company’s stock worth $807,000 after purchasing an additional 230 shares during the period. Diversify Advisory Services LLC acquired a new stake in L3Harris Technologies during the 1st quarter worth $448,000. Peterson Wealth Services boosted its stake in L3Harris Technologies by 5.8% during the 1st quarter. Peterson Wealth Services now owns 1,432 shares of the company’s stock worth $305,000 after purchasing an additional 79 shares during the period. Finally, Schulhoff & Co. Inc. increased its holdings in shares of L3Harris Technologies by 5.6% in the 1st quarter. Schulhoff & Co. Inc. now owns 1,637 shares of the company’s stock valued at $349,000 after purchasing an additional 87 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 0.8 %

LHX opened at $247.47 on Friday. The firm has a market capitalization of $46.94 billion, a P/E ratio of 39.09, a P/E/G ratio of 2.10 and a beta of 0.73. The firm’s 50 day moving average is $238.37 and its 200-day moving average is $228.37. L3Harris Technologies, Inc. has a 52-week low of $176.15 and a 52-week high of $258.89. 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 (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (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 net margin of 5.71% and a return on equity of 13.11%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 earnings per share. Analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. 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 1.87%. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $240.00 to $300.00 in a report on Thursday. Susquehanna increased their price target 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. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday. Wells Fargo & Company increased their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday. Finally, Citigroup increased their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $267.50.

Insider Activity

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 value of $731,103.84. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.82% of the company’s stock.

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.