Dearborn Partners LLC Has $204,000 Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Dearborn Partners LLC lowered its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 10.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 857 shares of the company’s stock after selling 103 shares during the period. Dearborn Partners LLC’s holdings in L3Harris Technologies were worth $204,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its holdings in L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares during the period. EntryPoint Capital LLC lifted its stake in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares during the period. Kennebec Savings Bank bought a new stake in L3Harris Technologies in the third quarter valued at approximately $36,000. Versant Capital Management Inc increased its position in L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares during the period. Finally, Family Firm Inc. bought a new position in L3Harris Technologies during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. The trade was a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 corporate insiders.

L3Harris Technologies Stock Performance

LHX opened at $247.00 on Friday. L3Harris Technologies, Inc. has a 1-year low of $184.34 and a 1-year high of $265.74. The company has a market cap of $46.85 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.18 and a beta of 0.72. The company’s fifty day moving average price is $242.77 and its two-hundred day moving average price is $231.81. 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 (NYSE:LHX) last posted 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. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.19 EPS. On average, analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.88%. L3Harris Technologies’s payout ratio is 73.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 28th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Susquehanna boosted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Thursday, October 10th. Finally, Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.