L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 8.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,597 shares of the company’s stock after selling 146 shares during the quarter. Pitcairn Co.’s holdings in L3Harris Technologies were worth $380,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Meeder Asset Management Inc. raised its stake in shares of L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 86 shares during the last quarter. Archer Investment Corp grew its holdings in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. EntryPoint Capital LLC raised its position in L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares in the last quarter. Kennebec Savings Bank acquired a new position in L3Harris Technologies in the third quarter valued at approximately $36,000. Finally, Versant Capital Management Inc boosted its position in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 8,964 shares of company stock worth $2,179,119 in the last ninety days. 0.87% of the stock is owned by insiders.

L3Harris Technologies Trading Up 2.1 %

LHX opened at $245.57 on Wednesday. The firm has a market capitalization of $46.58 billion, a price-to-earnings ratio of 38.79, a price-to-earnings-growth ratio of 2.07 and a beta of 0.72. The company’s 50 day simple moving average is $245.35 and its two-hundred day simple moving average is $233.72. L3Harris Technologies, Inc. has a 1-year low of $187.37 and a 1-year high of $265.74. 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 (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping 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 analyst estimates of $5.28 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LHX shares. Royal Bank of Canada boosted their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Citigroup upped their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $269.67.

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.