New England Research & Management Inc. Sells 200 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

New England Research & Management Inc. decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,845 shares of the company’s stock after selling 200 shares during the period. New England Research & Management Inc.’s holdings in L3Harris Technologies were worth $1,390,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fragasso Financial Advisors Inc increased its holdings in shares of L3Harris Technologies by 4.8% in the third quarter. Fragasso Financial Advisors Inc now owns 23,079 shares of the company’s stock worth $5,490,000 after acquiring an additional 1,062 shares in the last quarter. IAM Advisory LLC boosted its position in shares of L3Harris Technologies by 1.8% in the third quarter. IAM Advisory LLC now owns 8,297 shares of the company’s stock valued at $1,974,000 after acquiring an additional 147 shares during the period. Herbst Group LLC raised its stake in L3Harris Technologies by 2.6% in the third quarter. Herbst Group LLC now owns 10,185 shares of the company’s stock valued at $2,423,000 after purchasing an additional 260 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of L3Harris Technologies by 51.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,208 shares of the company’s stock worth $525,000 after buying an additional 746 shares in the last quarter. Finally, Czech National Bank boosted its holdings in shares of L3Harris Technologies by 6.9% during the 3rd quarter. Czech National Bank now owns 38,644 shares of the company’s stock valued at $9,192,000 after acquiring an additional 2,499 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday. Wells Fargo & Company reduced their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Susquehanna upped their target price 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. Finally, Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $246.54.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Wednesday, October 2nd. The stock was 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 in the company, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $10,951,680. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,390 shares of company stock valued at $7,592,959. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Down 0.8 %

Shares of NYSE:LHX traded down $2.00 during trading on Monday, hitting $241.66. 412,126 shares of the company were exchanged, compared to its average volume of 930,922. The stock has a market capitalization of $45.84 billion, a P/E ratio of 39.23, a PEG ratio of 2.04 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies, Inc. has a 12-month low of $169.55 and a 12-month high of $247.33. The firm’s 50 day moving average price is $231.62 and its 200-day moving average price is $223.66.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period last year, the business posted $2.97 EPS. L3Harris Technologies’s quarterly revenue was up 12.9% on a year-over-year basis. On average, research analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $1.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.92%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

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.