Intellectus Partners LLC Has $1.35 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Intellectus Partners LLC cut its position in L3Harris Technologies, Inc. (NYSE:LHX) by 7.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,675 shares of the company’s stock after selling 425 shares during the period. Intellectus Partners LLC’s holdings in L3Harris Technologies were worth $1,350,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC grew its stake in shares of L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after purchasing an additional 40 shares during the last quarter. Metis Global Partners LLC lifted its holdings in L3Harris Technologies by 1.5% during the 3rd quarter. Metis Global Partners LLC now owns 6,061 shares of the company’s stock worth $1,442,000 after buying an additional 91 shares in the last quarter. Schulhoff & Co. Inc. boosted its position in L3Harris Technologies by 12.7% in the 3rd quarter. Schulhoff & Co. Inc. now owns 1,995 shares of the company’s stock valued at $475,000 after buying an additional 225 shares during the last quarter. Zions Bancorporation N.A. raised its position in shares of L3Harris Technologies by 21.7% during the third quarter. Zions Bancorporation N.A. now owns 2,152 shares of the company’s stock worth $512,000 after acquiring an additional 384 shares during the last quarter. Finally, KBC Group NV raised its holdings in L3Harris Technologies by 3.5% during the 3rd quarter. KBC Group NV now owns 17,305 shares of the company’s stock worth $4,116,000 after purchasing an additional 585 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 completion of the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. This represents a 15.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 8,964 shares of company stock worth $2,179,119. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on LHX shares. Citigroup upped their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Barclays raised their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Finally, Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $267.50.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $248.16 on Friday. The company has a fifty day moving average price of $242.46 and a 200 day moving average price of $231.69. The firm has a market cap of $47.07 billion, a PE ratio of 39.20, a PEG ratio of 2.18 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 1-year low of $184.34 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted 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 business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. L3Harris Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $3.19 earnings per share. Research analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

L3Harris Technologies Company 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.