Olstein Capital Management L.P. Sells 7,818 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Olstein Capital Management L.P. cut its position in L3Harris Technologies, Inc. (NYSE:LHX) by 25.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,182 shares of the company’s stock after selling 7,818 shares during the quarter. Olstein Capital Management L.P.’s holdings in L3Harris Technologies were worth $5,514,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC lifted its holdings in shares of L3Harris Technologies by 39.7% during the first quarter. Jennison Associates LLC now owns 2,354 shares of the company’s stock worth $502,000 after buying an additional 669 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of L3Harris Technologies during the first quarter worth $167,000. Manchester Capital Management LLC lifted its holdings in shares of L3Harris Technologies by 73.3% during the first quarter. Manchester Capital Management LLC now owns 494 shares of the company’s stock worth $105,000 after buying an additional 209 shares in the last quarter. Duality Advisers LP acquired a new stake in shares of L3Harris Technologies during the first quarter worth $2,820,000. Finally, Empirical Finance LLC lifted its holdings in shares of L3Harris Technologies by 3.4% during the first quarter. Empirical Finance LLC now owns 7,067 shares of the company’s stock worth $1,506,000 after buying an additional 232 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Wells Fargo & Company raised their price target on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Royal Bank of Canada lifted their target price on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Susquehanna lifted their target price on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $267.50.

L3Harris Technologies Trading Down 0.4 %

LHX traded down $0.90 during trading on Thursday, hitting $255.55. The company’s stock had a trading volume of 47,659 shares, compared to its average volume of 905,461. L3Harris Technologies, Inc. has a twelve month low of $179.56 and a twelve month high of $260.00. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average price is $239.97 and its 200-day moving average price is $229.89. The firm has a market capitalization of $48.47 billion, a P/E ratio of 40.51, a PEG ratio of 2.06 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last issued its earnings results 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 period in the prior year, the firm earned $3.19 earnings per share. L3Harris Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. Analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

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 dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares in the company, valued at $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 is available through the SEC website. Insiders have sold 8,964 shares of company stock valued at $2,179,119 over the last ninety days. 0.87% of the stock is owned by company insiders.

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.