US Bancorp DE Lowers Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

US Bancorp DE reduced its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 263,600 shares of the company’s stock after selling 2,354 shares during the quarter. US Bancorp DE owned about 0.14% of L3Harris Technologies worth $62,702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HM Payson & Co. grew its stake in L3Harris Technologies by 4.1% during the third quarter. HM Payson & Co. now owns 454,471 shares of the company’s stock worth $108,105,000 after buying an additional 17,786 shares during the period. Cornerstone Wealth Group LLC lifted its holdings in shares of L3Harris Technologies by 3.0% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 14,066 shares of the company’s stock valued at $3,346,000 after acquiring an additional 408 shares in the last quarter. Tandem Capital Management Corp ADV boosted its position in L3Harris Technologies by 4.4% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 8,067 shares of the company’s stock worth $1,919,000 after purchasing an additional 342 shares during the period. Pinnacle Associates Ltd. increased its holdings in L3Harris Technologies by 1.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 27,332 shares of the company’s stock valued at $6,501,000 after purchasing an additional 345 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in L3Harris Technologies by 4.0% in the third quarter. First Trust Direct Indexing L.P. now owns 5,856 shares of the company’s stock valued at $1,393,000 after purchasing an additional 224 shares during the period. Institutional investors and hedge funds 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 the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the sale, the insider now directly owns 16,316 shares in the company, valued at approximately $3,861,670.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $247.47 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $46.94 billion, a price-to-earnings ratio of 39.09, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. L3Harris Technologies, Inc. has a twelve month low of $176.15 and a twelve month high of $258.89. The business has a 50 day simple moving average of $238.37 and a 200-day simple moving average of $228.37.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.19 earnings per share. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada increased their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday. Wolfe Research raised 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. Wells Fargo & Company raised their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday. Finally, Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $267.50.

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.