Pathway Financial Advisers LLC cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 89.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 373 shares of the company’s stock after selling 3,103 shares during the period. Pathway Financial Advisers LLC’s holdings in L3Harris Technologies were worth $89,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also made changes to their positions in LHX. First Trust Direct Indexing L.P. grew its holdings in L3Harris Technologies by 12.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,400 shares of the company’s stock worth $1,151,000 after acquiring an additional 586 shares in the last quarter. Leeward Investments LLC MA increased its holdings in L3Harris Technologies by 3.8% during the first quarter. Leeward Investments LLC MA now owns 44,941 shares of the company’s stock valued at $9,577,000 after buying an additional 1,646 shares during the period. J.W. Cole Advisors Inc. raised its stake in L3Harris Technologies by 6.4% in the first quarter. J.W. Cole Advisors Inc. now owns 3,829 shares of the company’s stock worth $807,000 after buying an additional 230 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in L3Harris Technologies during the first quarter worth $448,000. Finally, Peterson Wealth Services boosted its position in L3Harris Technologies by 5.8% during the 1st quarter. Peterson Wealth Services now owns 1,432 shares of the company’s stock valued at $305,000 after acquiring an additional 79 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.
L3Harris Technologies Stock Performance
Shares of LHX opened at $245.54 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The stock has a 50-day moving average of $238.05 and a two-hundred day moving average of $228.24. The stock has a market cap of $46.58 billion, a P/E ratio of 39.86, a P/E/G ratio of 2.10 and a beta of 0.73. L3Harris Technologies, Inc. has a one year low of $176.15 and a one year high of $258.89.
L3Harris Technologies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. L3Harris Technologies’s payout ratio is currently 75.32%.
Insider Buying and Selling
In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research firms have recently commented on LHX. Barclays boosted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday. Truist Financial lifted their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday. Susquehanna increased their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Finally, Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $261.50.
Read Our Latest Report on L3Harris Technologies
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.
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