L3Harris Technologies Inc $LHX Shares Sold by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. trimmed its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 15.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,100 shares of the company’s stock after selling 13,400 shares during the period. Factory Mutual Insurance Co.’s holdings in L3Harris Technologies were worth $17,782,000 as of its most recent SEC filing.

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

L3Harris Technologies Stock Down 0.7%

LHX opened at $277.12 on Wednesday. L3Harris Technologies Inc has a fifty-two week low of $232.34 and a fifty-two week high of $379.23. The business has a 50-day moving average of $250.32 and a 200-day moving average of $304.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 1.05. The company has a market capitalization of $51.60 billion, a PE ratio of 23.27, a price-to-earnings-growth 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 (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.33. The business had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.92 billion. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.70 EPS. Equities research analysts forecast that L3Harris Technologies Inc will post 12.32 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

LHX has been the subject of several research analyst reports. Jefferies Financial Group downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a research report on Wednesday, August 26th. Susquehanna lowered their price objective on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. Royal Bank Of Canada boosted their target price on shares of L3Harris Technologies from $265.00 to $295.00 and gave the company a “sector perform” rating in a research note on Friday, October 30th. Melius Research downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Finally, Bank of America increased their target price on L3Harris Technologies from $325.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $345.60.

L3Harris Technologies Company Profile

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.