L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Moody Lynn & Lieberson LLC

by · The Markets Daily

Moody Lynn & Lieberson LLC lessened its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 5.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 6,732 shares of the company’s stock after selling 381 shares during the period. Moody Lynn & Lieberson LLC’s holdings in L3Harris Technologies were worth $1,601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wealthcare Advisory Partners LLC purchased a new stake in shares of L3Harris Technologies in the first quarter valued at $216,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of L3Harris Technologies by 18.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 37,204 shares of the company’s stock valued at $7,928,000 after purchasing an additional 5,877 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of L3Harris Technologies in the first quarter valued at $265,000. Register Financial Advisors LLC purchased a new stake in shares of L3Harris Technologies in the first quarter valued at $143,000. Finally, Norway Savings Bank lifted its holdings in shares of L3Harris Technologies by 39.9% in the first quarter. Norway Savings Bank now owns 2,186 shares of the company’s stock valued at $466,000 after purchasing an additional 624 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on LHX. Wells Fargo & Company reduced their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Citigroup increased their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. Finally, Truist Financial upped their price target on shares of L3Harris Technologies from $250.00 to $293.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $256.71.

Check Out Our Latest Stock Analysis on L3Harris Technologies

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated 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 approximately $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Trading Down 0.7 %

L3Harris Technologies stock opened at $244.17 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The company has a market capitalization of $46.31 billion, a price-to-earnings ratio of 39.64, a PEG ratio of 2.08 and a beta of 0.73. L3Harris Technologies, Inc. has a one year low of $169.55 and a one year high of $250.88. The company’s fifty day moving average price is $236.24 and its two-hundred day moving average price is $226.77.

L3Harris Technologies (NYSE:LHX – Get Free Report) last issued its quarterly 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 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 period last year, the business posted $3.19 earnings per share. On average, analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared 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 1.90%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

L3Harris Technologies Profile

(Free Report)

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.

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