Barrett & Company Inc. Has $131,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Barrett & Company Inc. lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 46.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 552 shares of the company’s stock after selling 477 shares during the quarter. Barrett & Company Inc.’s holdings in L3Harris Technologies were worth $131,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings 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 purchasing an additional 6,634 shares during the last quarter. Edgestream Partners L.P. raised its stake in L3Harris Technologies by 151.6% in the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock worth $822,000 after purchasing an additional 2,325 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of L3Harris Technologies by 35.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 35,953 shares of the company’s stock worth $7,661,000 after purchasing an additional 9,341 shares in the last quarter. Creative Planning raised its stake in L3Harris Technologies by 1.2% in the third quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after purchasing an additional 512 shares in the last quarter. Finally, Mutual Advisors LLC lifted its holdings in shares of L3Harris Technologies by 88.7% during the 1st quarter. Mutual Advisors LLC now owns 8,576 shares of the company’s stock worth $1,827,000 after acquiring an additional 4,031 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 2,988 shares of the business’s 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 sale, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LHX shares. Susquehanna raised their target price on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Truist Financial upped their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Finally, Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.21.

L3Harris Technologies Stock Performance

Shares of NYSE LHX traded down $1.76 during midday trading on Monday, reaching $251.05. The company’s stock had a trading volume of 141,644 shares, compared to its average volume of 908,018. The stock has a market capitalization of $47.63 billion, a P/E ratio of 39.68, a PEG ratio of 2.10 and a beta of 0.73. The firm has a 50 day moving average price of $237.08 and a 200-day moving average price of $227.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies, Inc. has a 12-month low of $172.30 and a 12-month high of $258.89.

L3Harris Technologies (NYSE:LHX) last issued 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 for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.19 earnings per share. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 74.24%.

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.