L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC lessened its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,014 shares of the company’s stock after selling 158 shares during the period. Summit Trail Advisors LLC’s holdings in L3Harris Technologies were worth $955,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in L3Harris Technologies by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after buying an additional 523,315 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in L3Harris Technologies by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after purchasing an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA raised its position in L3Harris Technologies by 5.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after purchasing an additional 85,882 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in L3Harris Technologies by 2.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock worth $334,429,000 after purchasing an additional 31,686 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of L3Harris Technologies by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company’s stock worth $315,611,000 after buying an additional 156,453 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. The trade was a 18.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 8,964 shares of company stock valued at $2,179,119 in the last ninety days. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $240.64 on Tuesday. 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 $45.64 billion, a P/E ratio of 38.02, a PEG ratio of 2.07 and a beta of 0.72. The business has a 50 day simple moving average of $245.04 and a 200-day simple moving average of $233.54. L3Harris Technologies, Inc. has a twelve month low of $187.37 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly 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 firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. L3Harris Technologies’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.19 EPS. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LHX shares. Barclays increased their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Susquehanna increased their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Wells Fargo & Company lifted their price objective on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.

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.