L3Harris Technologies Inc $LHX Stock Sold by Focused Investors LLC

Focused Investors LLC trimmed its stake in L3Harris Technologies Inc (NYSE:LHX) by 16.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 238,650 shares of the company’s stock after selling 45,500 shares during the quarter. L3Harris Technologies accounts for 2.3% of Focused Investors LLC’s portfolio, making the stock its 21st biggest position. Focused Investors LLC’s holdings in L3Harris Technologies were worth $56,508,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Legacy Wealth Management LLC MS boosted its position in L3Harris Technologies by 0.8% during the 3rd quarter. Legacy Wealth Management LLC MS now owns 12,058 shares of the company’s stock valued at $2,855,000 after acquiring an additional 98 shares in the last quarter. Tucker Asset Management LLC grew its holdings in shares of L3Harris Technologies by 4.8% during the 3rd quarter. Tucker Asset Management LLC now owns 1,429 shares of the company’s stock worth $338,000 after acquiring an additional 65 shares during the period. Signature Equity Partners LLC raised its position in shares of L3Harris Technologies by 2.8% in the 3rd quarter. Signature Equity Partners LLC now owns 1,925 shares of the company’s stock worth $456,000 after acquiring an additional 52 shares in the last quarter. XML Financial LLC raised its position in shares of L3Harris Technologies by 1.7% in the 3rd quarter. XML Financial LLC now owns 9,102 shares of the company’s stock worth $2,155,000 after acquiring an additional 151 shares in the last quarter. Finally, Welch Group LLC lifted its stake in shares of L3Harris Technologies by 11.4% in the 3rd quarter. Welch Group LLC now owns 1,190 shares of the company’s stock valued at $282,000 after purchasing an additional 122 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of several research reports. Weiss Ratings lowered L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 10th. Jefferies Financial Group downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price objective for the company. in a report on Wednesday, August 26th. Sanford C. Bernstein lowered their price objective on L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating for the company in a research report on Wednesday, October 14th. BNP Paribas Exane lowered their price objective on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Finally, TD Cowen dropped their target price on shares of L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $345.60.

L3Harris Technologies Trading Down 0.7%

Shares of NYSE LHX opened at $277.12 on Wednesday. The firm’s 50 day moving average price is $250.32 and its 200-day moving average price is $304.42. L3Harris Technologies Inc has a 52-week low of $232.34 and a 52-week high of $379.23. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 1.20. The company has a market cap of $51.60 billion, a PE ratio of 25.85, a P/E/G ratio of 1.68 and a beta of 0.47.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.33. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter last year, the firm earned $2.70 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that L3Harris Technologies Inc will post 12.32 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, December 4th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 46.64%.

About L3Harris Technologies

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.