Dearborn Partners LLC Decreases Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Dearborn Partners LLC reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 10.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 857 shares of the company’s stock after selling 103 shares during the quarter. Dearborn Partners LLC’s holdings in L3Harris Technologies were worth $204,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. QRG Capital Management Inc. increased its stake in shares of L3Harris Technologies by 6.3% during the 1st quarter. QRG Capital Management Inc. now owns 2,431 shares of the company’s stock worth $518,000 after purchasing an additional 145 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in L3Harris Technologies in the first quarter worth $228,000. Kingsview Wealth Management LLC raised its stake in shares of 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. Blair William & Co. IL lifted its position in shares of L3Harris Technologies by 16.5% during the 1st quarter. Blair William & Co. IL now owns 30,025 shares of the company’s stock valued at $6,398,000 after buying an additional 4,245 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its stake in shares of L3Harris Technologies by 21.3% during the 1st quarter. Orion Portfolio Solutions LLC now owns 9,389 shares of the company’s stock worth $2,001,000 after acquiring an additional 1,650 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

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 transaction, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This trade represents a 18.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 8,964 shares of company stock valued at $2,179,119. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LHX. Royal Bank of Canada upped their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Wells Fargo & Company raised their price objective on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Truist Financial lifted their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Barclays increased their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $267.50.

L3Harris Technologies Trading Down 0.5 %

Shares of LHX opened at $247.00 on Friday. 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 $184.34 and a 1-year high of $265.74. The company has a market capitalization of $46.85 billion, a P/E ratio of 39.02, a P/E/G ratio of 2.18 and a beta of 0.72. The firm’s 50 day simple moving average is $242.77 and its 200 day simple moving average is $231.81.

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, topping analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 EPS. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share 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. Stockholders of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.88%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

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.