L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Nicollet Investment Management Inc.

Nicollet Investment Management Inc. lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,675 shares of the company’s stock after purchasing an additional 81 shares during the period. Nicollet Investment Management Inc.’s holdings in L3Harris Technologies were worth $1,588,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of L3Harris Technologies by 17.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock worth $9,845,000 after acquiring an additional 6,634 shares in the last quarter. Edgestream Partners L.P. grew its position in shares of L3Harris Technologies by 151.6% in the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock valued at $822,000 after buying an additional 2,325 shares during the last quarter. KCM Investment Advisors LLC raised its stake in L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after acquiring an additional 5,868 shares in the last quarter. Creative Planning lifted its position in L3Harris Technologies by 1.2% in 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 during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in L3Harris Technologies in the second quarter valued at $210,886,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 0.5 %

NYSE:LHX opened at $247.00 on Friday. L3Harris Technologies, Inc. has a 1 year low of $184.34 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a fifty day moving average price of $243.16 and a two-hundred day moving average price of $232.02. The stock has a market capitalization of $46.85 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.18 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the company posted $3.19 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.88%. L3Harris Technologies’s payout ratio is 73.30%.

Insider Transactions at L3Harris Technologies

In related news, 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 value of $731,103.84. Following the completion of the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This trade represents a 18.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 8,964 shares of company stock valued at $2,179,119 in the last quarter. 0.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LHX shares. Barclays boosted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Truist Financial upped their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada raised their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $267.50.

About L3Harris Technologies

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.