Commerce Bank lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 10.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,213 shares of the company's stock after selling 2,253 shares during the quarter. Commerce Bank's holdings in L3Harris Technologies were worth $4,570,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of LHX. Strategy Asset Managers LLC raised its stake in L3Harris Technologies by 15.0% in the 3rd quarter. Strategy Asset Managers LLC now owns 1,586 shares of the company's stock worth $377,000 after purchasing an additional 207 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of L3Harris Technologies by 616.6% during the third quarter. Avior Wealth Management LLC now owns 2,637 shares of the company's stock worth $627,000 after purchasing an additional 2,269 shares during the period. Second Half Financial Partners LLC bought a new stake in shares of L3Harris Technologies in the third quarter valued at approximately $3,076,000. SouthState Corp boosted its stake in shares of L3Harris Technologies by 2.5% in the third quarter. SouthState Corp now owns 57,370 shares of the company's stock valued at $13,647,000 after buying an additional 1,401 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its holdings in shares of L3Harris Technologies by 30.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,397 shares of the company's stock worth $570,000 after purchasing an additional 563 shares in the last quarter. Institutional investors own 84.76% of the company's stock.
Several equities analysts have recently commented on LHX shares. Citigroup boosted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Royal Bank of Canada raised their target price on L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a report on Monday, October 28th. Wolfe Research upgraded L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. Truist Financial upped their price objective on L3Harris Technologies from $293.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price 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 investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus price target of $267.50.
Check Out Our Latest Analysis on LHX
LHX stock opened at $248.16 on Friday. The company has a market capitalization of $47.07 billion, a P/E ratio of 39.20, a PEG ratio of 2.06 and a beta of 0.72. The company has a fifty day moving average price of $244.86 and a 200-day moving average price of $233.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a 52-week low of $187.37 and a 52-week high of $265.74.
L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the company earned $3.19 EPS. L3Harris Technologies's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, November 18th. L3Harris Technologies's payout ratio is presently 73.30%.
In related news, insider Ross Niebergall sold 2,988 shares of the business's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 8,964 shares of company stock valued at $2,179,119. 0.82% of the stock is currently owned by company insiders.
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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