Associated Banc Corp Sells 371 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Associated Banc Corp lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 11.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,779 shares of the company’s stock after selling 371 shares during the period. Associated Banc Corp’s holdings in L3Harris Technologies were worth $661,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LHX. KCM Investment Advisors LLC lifted its holdings in L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of L3Harris Technologies by 17.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after acquiring an additional 6,634 shares during the period. Creative Planning grew its stake in L3Harris Technologies by 1.2% during the third quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after acquiring an additional 512 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in L3Harris Technologies during the 2nd quarter worth approximately $210,886,000. Finally, Janney Montgomery Scott LLC purchased a new stake in L3Harris Technologies in the 3rd quarter worth approximately $35,904,000. 84.76% of the stock is owned by institutional investors.

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 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 represents a 18.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 8,964 shares of company stock valued at $2,179,119. 0.87% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on LHX. Citigroup boosted their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Truist Financial boosted their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Barclays lifted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company boosted their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Finally, Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $267.50.

L3Harris Technologies Price Performance

LHX opened at $240.64 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 1 year low of $187.37 and a 1 year high of $265.74. The stock’s 50 day simple moving average is $245.04 and its 200 day simple moving average is $233.54. The firm has a market cap of $45.64 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 2.07 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results 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. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the business earned $3.19 EPS. L3Harris Technologies’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 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.