Vontobel Holding Ltd. Sells 562 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Vontobel Holding Ltd. lowered its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 26.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,590 shares of the company’s stock after selling 562 shares during the period. Vontobel Holding Ltd.’s holdings in L3Harris Technologies were worth $378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brady Family Wealth LLC grew its stake in L3Harris Technologies by 11.7% during the third quarter. Brady Family Wealth LLC now owns 3,244 shares of the company’s stock valued at $772,000 after acquiring an additional 340 shares in the last quarter. Trust Co. of Oklahoma grew its stake in L3Harris Technologies by 59.8% during the third quarter. Trust Co. of Oklahoma now owns 4,883 shares of the company’s stock valued at $1,162,000 after acquiring an additional 1,827 shares in the last quarter. Iams Wealth Management LLC grew its stake in L3Harris Technologies by 2.2% during the third quarter. Iams Wealth Management LLC now owns 9,098 shares of the company’s stock valued at $2,164,000 after acquiring an additional 197 shares in the last quarter. Creative Planning grew its stake in L3Harris Technologies by 1.2% during the third quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after acquiring an additional 512 shares in the last quarter. Finally, Wesbanco Bank Inc. grew its stake in L3Harris Technologies by 62.6% during the third quarter. Wesbanco Bank Inc. now owns 6,784 shares of the company’s stock valued at $1,614,000 after acquiring an additional 2,611 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 1.3 %

NYSE:LHX opened at $244.93 on Wednesday. The company has a fifty day moving average of $235.84 and a 200 day moving average of $226.63. L3Harris Technologies, Inc. has a 52 week low of $169.55 and a 52 week high of $250.88. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $46.46 billion, a P/E ratio of 39.76, a P/E/G ratio of 2.08 and a beta of 0.73.

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

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Barclays boosted their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Susquehanna boosted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $256.71.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the 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 sale, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.82% of the company’s stock.

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.