L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,812,668 shares of the company’s stock after selling 98,772 shares during the quarter. Wellington Management Group LLP owned 2.54% of L3Harris Technologies worth $1,144,789,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LHX. Meeder Asset Management Inc. grew its position in L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. Archer Investment Corp grew its holdings in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of L3Harris Technologies in the 3rd quarter valued at $36,000. Family Firm Inc. purchased a new position in L3Harris Technologies in the 2nd quarter worth $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in L3Harris Technologies during the 2nd quarter worth about $57,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LHX. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Tuesday, November 26th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Truist Financial upped their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $269.67.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $234.62 on Friday. The stock has a market capitalization of $44.50 billion, a P/E ratio of 37.06, a P/E/G ratio of 2.01 and a beta of 0.72. The company’s fifty day moving average price is $246.70 and its 200 day moving average price is $234.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a 1 year low of $193.34 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its earnings results 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. The business 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 company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $3.19 earnings per share. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.98%. L3Harris Technologies’s payout ratio is currently 73.30%.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies 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.