L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Washington Trust Bank

Washington Trust Bank cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,148 shares of the company’s stock after selling 890 shares during the quarter. Washington Trust Bank’s holdings in L3Harris Technologies were worth $12,167,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in L3Harris Technologies by 12.9% during the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after purchasing an additional 2,606,267 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of L3Harris Technologies by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock worth $2,052,411,000 after acquiring an additional 45,845 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of L3Harris Technologies by 19.7% in the second 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. Allspring Global Investments Holdings LLC raised its holdings in shares of L3Harris Technologies by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock worth $485,215,000 after acquiring an additional 27,763 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in shares of L3Harris Technologies by 2.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock worth $334,429,000 after acquiring an additional 31,686 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Down 0.0 %

LHX traded down $0.02 on Thursday, reaching $256.43. The company’s stock had a trading volume of 12,729 shares, compared to its average volume of 905,371. The stock has a market cap of $48.64 billion, a price-to-earnings ratio of 40.51, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72. L3Harris Technologies, Inc. has a 1 year low of $179.56 and a 1 year high of $260.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The business’s 50 day moving average is $239.97 and its 200 day moving average is $229.89.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data 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. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the prior year, the firm posted $3.19 earnings per share. L3Harris Technologies’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.81%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s payout ratio is currently 73.30%.

Analysts Set New Price Targets

LHX has been the subject of a number of analyst reports. Susquehanna boosted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Barclays upped their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lowered their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Citigroup boosted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 in the company, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 8,964 shares of company stock worth $2,179,119 over the last quarter. 0.87% of the stock is owned by corporate insiders.

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.